16 Feb 2015
Market Movers: USD continues to lose ground in the Asian trade – TDS
FXStreet (Barcelona) - Prashant Newnaha, Asia-Pacific Macro Strategist at TD Securities, shares the market performance in the Asian trade, noting that USD continued to lose ground against its G10 peers, while ACGB and NZGB yields trade modestly higher.
Key Quotes
“It was a fairly quiet trading session in Asia with thin trading conditions as U.S. and Canadian markets are closed today and Asian markets prepare for prolonged Chinese New Year celebrations.”
“Overall market tone appears cautiously optimistic that a deal on Greece can be worked out.”
“All major equity indices are up in Asia. Not even another GDP miss to the downside weighed on Japanese equities +0.6% while Chinese/Australian equities are +0.2% and India +0.45%.”
“ACGB and NZGB yields are modestly higher with benchmark 3 and 10yr yields +2bps, while ACGB 10yrs +5bps.”
“In currencies, the USD continues to lose ground vs all G10 peers. The NZD surged +0.6% to US$0.75 following the strong retail sales report, and saw AUDNZD reach NZ$1.0380, near record lows. The AUD is +0.3% to US$0.7785.”
“It was a mixed bag in the commodities patch. Iron ore futures are up +2%, brent crude and copper futures off –0.2% and gold is up US$3 to US$1232oz.”
Key Quotes
“It was a fairly quiet trading session in Asia with thin trading conditions as U.S. and Canadian markets are closed today and Asian markets prepare for prolonged Chinese New Year celebrations.”
“Overall market tone appears cautiously optimistic that a deal on Greece can be worked out.”
“All major equity indices are up in Asia. Not even another GDP miss to the downside weighed on Japanese equities +0.6% while Chinese/Australian equities are +0.2% and India +0.45%.”
“ACGB and NZGB yields are modestly higher with benchmark 3 and 10yr yields +2bps, while ACGB 10yrs +5bps.”
“In currencies, the USD continues to lose ground vs all G10 peers. The NZD surged +0.6% to US$0.75 following the strong retail sales report, and saw AUDNZD reach NZ$1.0380, near record lows. The AUD is +0.3% to US$0.7785.”
“It was a mixed bag in the commodities patch. Iron ore futures are up +2%, brent crude and copper futures off –0.2% and gold is up US$3 to US$1232oz.”