26 Jul 2013
Flash: Quiet markets, attention to Fed – TD Securities
FXstreet.com (London) - Richard Kelly, Head of European Rates and FX Research at TD Securities said it was quiet Asian and European sessions largely devoid of significant data and headlines.
Key Quotes:
“The US dollar has been sold with S&P futures down on the day, mostly coming in the European session, with gilts rallying, bunds flat, and Treasury yields slightly higher”.
“The yen is outperforming, 0.7% stronger on the day in part on the back of CPI for June printing a tenth higher than expected across core and headline figures”.
“…it was all the Fed gossip from yesterday that continued to linger in the markets—the Hilsenrath article yesterday that the FOMC next week is either likely to leave the statement completely unchanged or raise the hurdle further for rate cuts, suggestions Larry Summers is more optimistic but could be less keen to use QE, and a push by some US Senators to ask Obama to nominate Yellen, not Summers as Fed Governor”.
Key Quotes:
“The US dollar has been sold with S&P futures down on the day, mostly coming in the European session, with gilts rallying, bunds flat, and Treasury yields slightly higher”.
“The yen is outperforming, 0.7% stronger on the day in part on the back of CPI for June printing a tenth higher than expected across core and headline figures”.
“…it was all the Fed gossip from yesterday that continued to linger in the markets—the Hilsenrath article yesterday that the FOMC next week is either likely to leave the statement completely unchanged or raise the hurdle further for rate cuts, suggestions Larry Summers is more optimistic but could be less keen to use QE, and a push by some US Senators to ask Obama to nominate Yellen, not Summers as Fed Governor”.