29 Apr 2015
Market Movers: AUD outperforms as DXY weakens – TDS
FXStreet (Barcelona) - Prashant Newnaha, Strategist at TD Securities, summarizes the market performance during the Asian trade.
Key Quotes
“The AUD reclaimed US$0.80 overnight to outperform all G10 peers, +2%, NZD close behind at +1.65% and CAD +0.8% following the surprise drop in April U.S. Consumer Sentiment to 4 month lows, and ahead of FOMC and expectations for a weak Q1 GDP print today, (TD +0.8%, mkt +1%, prior +2.2%) this accelerated the DXY decline.”
“In Asia, DXY has held 96 support, perhaps “sell on rally” for AUD and NZD as they are underperformers in our time zone (–0.4% and –0.3% respectively).”
“USTs barely traded in Asia today with the Japanese market closed, but ACGBs and NZGBs are higher in yield following the backup in US 10s, NZGB 10yrs are +1bps, ACGB 10yrs, +3bps while short ends are unchanged.”
“Position squaring ahead of the FOMC has Asian equities weaker across the board, SHCOMP –0.35%, ASX –1.5%, Sensex –0.2%. Commodities are softer, -0.5%, with iron ore down –1.9%.”
Key Quotes
“The AUD reclaimed US$0.80 overnight to outperform all G10 peers, +2%, NZD close behind at +1.65% and CAD +0.8% following the surprise drop in April U.S. Consumer Sentiment to 4 month lows, and ahead of FOMC and expectations for a weak Q1 GDP print today, (TD +0.8%, mkt +1%, prior +2.2%) this accelerated the DXY decline.”
“In Asia, DXY has held 96 support, perhaps “sell on rally” for AUD and NZD as they are underperformers in our time zone (–0.4% and –0.3% respectively).”
“USTs barely traded in Asia today with the Japanese market closed, but ACGBs and NZGBs are higher in yield following the backup in US 10s, NZGB 10yrs are +1bps, ACGB 10yrs, +3bps while short ends are unchanged.”
“Position squaring ahead of the FOMC has Asian equities weaker across the board, SHCOMP –0.35%, ASX –1.5%, Sensex –0.2%. Commodities are softer, -0.5%, with iron ore down –1.9%.”