10 Mar 2015
Market Movers: USD continues to advance in the Asian trade – TDS
FXStreet (Barcelona) - Prashant Newnaha, Asia-Pacific Macro Strategist at TD Securities, summarizes the market performance in the Asian trade, noting that USD has continued its advance across the G10 FX space.
Key Quotes
“It was dull trading in the U.S. session with the Fed’s labour market conditions index the only data release (lowest since Aug 14) while the ECB launched its bond buying program (bunds outperformed Gilts, the spread at 22yr wides). There was some Fed chatter from non-voter Mester backing H1 2015 lift off and BoC’s Gov Poloz suggested there is no need for further cuts.”
“Amongst all these developments, the USD has continued to advance in Asia, stronger against all its G10 peers. The NZD is the worst performer, -0.8% following a milk contamination scare, currently at US$0.7300 with the AUD not far behind –0.7% at US$0.765. The Euro is down 0.5% at US$1.079 and the ¥en -0.5%, breaking above ¥122, currently ¥121.77."
“In fixed income, ACGB 3yrs are –3bps, 10yrs –6bps and NZGBs are close to flat.”
“Most equity indices are slightly in the red (Japan –0.7%, China –0.1%, Australia flat and India +0.1%).”
“Commodities are generally weaker, Gold off US$5, copper futures –0.9%, iron ore flat and brent futures –0.2%.”
Key Quotes
“It was dull trading in the U.S. session with the Fed’s labour market conditions index the only data release (lowest since Aug 14) while the ECB launched its bond buying program (bunds outperformed Gilts, the spread at 22yr wides). There was some Fed chatter from non-voter Mester backing H1 2015 lift off and BoC’s Gov Poloz suggested there is no need for further cuts.”
“Amongst all these developments, the USD has continued to advance in Asia, stronger against all its G10 peers. The NZD is the worst performer, -0.8% following a milk contamination scare, currently at US$0.7300 with the AUD not far behind –0.7% at US$0.765. The Euro is down 0.5% at US$1.079 and the ¥en -0.5%, breaking above ¥122, currently ¥121.77."
“In fixed income, ACGB 3yrs are –3bps, 10yrs –6bps and NZGBs are close to flat.”
“Most equity indices are slightly in the red (Japan –0.7%, China –0.1%, Australia flat and India +0.1%).”
“Commodities are generally weaker, Gold off US$5, copper futures –0.9%, iron ore flat and brent futures –0.2%.”