The European trading session opens today with the euro bashed lower by fresh fears that the proposed Grand Coalition in Germany won't happen; the Mexican peso ahead on hope of a "softer" Trump approach to NAFTA; buoyant equity performance in Asia and an emerging likelihood that the commodity metals and energy rally will run out of steam.

• Euro hurt by partial rejection of German coalition
• Just a small fraction of SPD members voted No, but others may follow
• Overall SPD vote on Grand Coalition will take place on Sunday
• Mexican peso doing well on hopes Trump will soften his NAFTA stance
• Hang Seng futures up 1.6% and Nikkei futures 1% ahead
• Commodity metals & energy rally may pause as investors take stock