FAST FIVE: Global Stocks Hit 4 Month High As US Futures Drop Ahead Of Fed Minutes; Yuan Soars

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In the latest Brexit news, PM May is reportedly to present the EU with fresh legal proposals to break the Irish backstop deadlock and which will hopefully convince Brexiteers to support her deal.

Looking at the day ahead now, while there's no data due in the US, we will get the FOMC meeting minutes from the January meeting.

After Europe closed last night, headlines emerged that the US is asking China to keep the yuan stable as part of the negotiations between the world's two largest economies to ensure devaluations aren't used to offset tariff increases.

The same article on Bloomberg suggested the two countries are discussing how to address currency policy in a “Memorandum of Understanding” that would form the basis of a deal that ultimately will have to be approved by Mr Trump and Xi Jinping.

Later this morning we'll get the February CBI survey in the UK before the February consumer confidence reading for the Euro Area is out this afternoon.

Categories: ZH