ASIA FIRM, OIL ON BACK FOOT, YIELDS MUTED.

ECONOMY

On Monday , Asian indices start with positive note, and the euro was trading in a narrow range after the weekend’s European Parliament elections highlighted the deepening political fragmentation of the 28-country bloc.
Estimates after the European Parliament polls closed on Sunday showed that the two largest centrist groups - the European Peoples’ Party (EPP) to the right and the Socialists & Democrats (S&D) on the left - will no longer hold a majority in the new 751-seat chamber.
Wall Street’s major indexes edged higher on Friday in a rebound from the previous session’s losses after comments from U.S. President Donald Trump regarding trade relations with China gave the wary markets a bit of a respite.
USA - UK on holiday today on Memorial Day.
China’s automobile sales will reach around 28.1 million units this year, unchanged from 2018 levels, state news agency Xinhua reported on Sunday.
Indians lead the top 10 nationalities investing in Dubai’s gold sector followed by the citizens of Pakistan, Britain, Saudi Arabia, Switzerland, Oman, Jordan, Belgium, Yemen and Canada, according to a new report.

On Friday, The 10-year Treasury note yield rose 3.2 basis points to 2.327%, trimming its week long drop to 6.9 basis points. The 2-year note yield was up 4.5 basis points to 2.175%, marking its biggest daily increase since April 1. The short-dated maturity fell 3 basis points for the week.
The 30-year bond yield rose 2.3 basis points to 2.754%, paring its week long decline to 7.1 basis points. Debt prices move in the opposite direction of yields.
Yields for British 10-year pounds known as gilts, fell a single basis point to 0.955% after U.K. Prime Minister Theresa May announced her resignation due to her inability to pass a Brexit deal.

The dollar index against a basket of six major currencies inched down 0.03% to 97.48.
The euro was a shade higher at $1.1211, holding within a tight $1.2272-$1.2754 range in what was a limited reaction to so far the exit polls.
The pound was 0.1% higher at $1.2727. Sterling had bounced back from a near five-month trough of $1.2605 after British Prime Minister Theresa May said she would quit early next month.
The Canadian dollar rebounded on Friday as risk appetite rose putting the greenback on the back foot. Trade tensions between the US and China put pressure on the loonie, which got no help from falling energy prices. The Bank of Canada (BoC) is expected to keep rates unchanged on Wednesday.

Oil prices rose on Monday as ongoing supply cuts led by producer club OPEC kept markets relatively tight, but Brent remained below $68 per barrel on concerns over an ongoing trade war between the United States and China.
U.S. crude futures slip 0.34% to $58.60 per barrel, trimming some of the deep losses suffered last week when trade tensions clouded the global demand outlook for the commodity. Brent crude trading at $67.56 per barrel.