Overnight Markets And News

The dollar index (DXY00 +0.22%) is up +0.33%. EUR/USD (^EURUSD -0.41%) is down -0.39% weaker on heightened political risks in Germany as Chancellor Merkel's Christian Democratic party may lose its parliamentary majority due to a standoff on migration policies. The Interior Minister of the Bavarian Christian Social Union has threatened to resign from Merkel's cabinet if no compromise is found on migration policy today. USD/JPY (^USDJPY +0.09%) is down -0.01%.

Sep 10-year T-note prices (ZNU18 +0-045) are up +5 ticks.

The Eurozone Jun Markit manufacturing PMI was revised downward to 54.9 from the previously reported 55.0, the slowest pace of expansion in 1-1/2 years.

The Eurozone May unemployment rate was unchanged at an 8-1/3 year low of 8.4%, better than expectations of no change at 8.5%.