26 Mar 2015
Recap: Choppy Wed in FX - ANZ
FXStreet (Bali) - The Research Team at ANZ comments on the latest market developments from Wednesday, defining the day as choppy.
Key Quotes
"It was another choppy session in FX markets as thin trading conditions persisted. Both the AUD and NZD traded in tight ranges to finish the session little changed. The EUR strengthened slightly against the USD, extending its recent gains."
"Uncertainty over the timing over the first rate hike in the US has led to profittaking on short EUR/USD positions and investors have also been willing to take profits as the Easter holiday period and quarter-end approach."
"US Treasury yields rose marginally, despite the weaker-than-expected durable goods data. It was a mixed session for euro area sovereign bonds, with German, French and Spanish yields declining slightly, while Italian and Portuguese yields rose. European stocks were a sea of red, while US equities also fell in early trade (currently down around 1%), with technology stocks underperforming, on what appeared to be profit-taking by investors."
"WTI crude oil prices lifted, with markets shrugging off the weekly Energy Information Administration report showing that US crude inventories increased sharply again last week. Gold prices strengthened (currently up 0.4%), while iron ore was broadly unchanged."
Key Quotes
"It was another choppy session in FX markets as thin trading conditions persisted. Both the AUD and NZD traded in tight ranges to finish the session little changed. The EUR strengthened slightly against the USD, extending its recent gains."
"Uncertainty over the timing over the first rate hike in the US has led to profittaking on short EUR/USD positions and investors have also been willing to take profits as the Easter holiday period and quarter-end approach."
"US Treasury yields rose marginally, despite the weaker-than-expected durable goods data. It was a mixed session for euro area sovereign bonds, with German, French and Spanish yields declining slightly, while Italian and Portuguese yields rose. European stocks were a sea of red, while US equities also fell in early trade (currently down around 1%), with technology stocks underperforming, on what appeared to be profit-taking by investors."
"WTI crude oil prices lifted, with markets shrugging off the weekly Energy Information Administration report showing that US crude inventories increased sharply again last week. Gold prices strengthened (currently up 0.4%), while iron ore was broadly unchanged."