During the early trading session, Asian stocks traded mixed as investors digest the government bond sell off from major central banks, as yields reached its highest levels since November. The Nikkei share average closed almost flat with a 0.03% increase, the Hang Seng Index was down 1.12% and the Shanghai Composite rallied 3.67% led by gains in the electricity, utilities and retailers sectors. Following the release of positive data from Australia the AUD traded higher against a basket of major currencies. The Home Loans for the month of March rose 1.6%, above the expected figure of 1%, this positive data indicates higher demand in the housing market.

During the European session, the British Pound continued to climb higher against the Dollar following strong UK data and the pair is currently trading at its highest level since December. The Manufacturing Production for the month of March showed that the inflation adjusted value of output produced rose 0.4%, higher than the forecast figure of 0.3%. The EUR/USD also traded higher as higher yields along with the global bond selloff pushed up the Euro. Furthermore, Greece paid a loan installment of 750 million Euros to the Monetary Fund lifting fears that the country could go into default, however, the nation is yet to lay out reforms and reach an agreement for an extension on the current debt bailout.

During early U.S. trade, American stocks traded lower as borrowing costs across global banks reached its highest levels since late last year. Nasdaq Composite is down 0.44%, S&P500 down 0.38% and Dow Industrial dropped 0.31%

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