17 Jul 2014
FX space conditions in a snap shot - TDS
FXStreet (Guatemala) - Analysts at TD Securities give us a snap shot overview within the FX space currently.
Key Quotes:
“The last week saw generally strong US earnings reports and Janet Yellen’s semi-annual testimony to Congress, where she suggested some parts of the equity market are overvalued, but that the recovery is on track while not overly emphasizing the start of hiking next year”.
“European data continues to move through a soft patch for May-June data, which is likely to continue next week”.
“RBNZ expectations and NZD moved lower over the week with soft CPI while Canadian 2y yields saw the largest decline across the G10 as the BoC remains dovish, even if this didn’t push USD/CAD higher”.
“We continue to see a very soft period for data with flat or downside surprises across most of the G10, though North America is starting to inch into positive territory”.
Key Quotes:
“The last week saw generally strong US earnings reports and Janet Yellen’s semi-annual testimony to Congress, where she suggested some parts of the equity market are overvalued, but that the recovery is on track while not overly emphasizing the start of hiking next year”.
“European data continues to move through a soft patch for May-June data, which is likely to continue next week”.
“RBNZ expectations and NZD moved lower over the week with soft CPI while Canadian 2y yields saw the largest decline across the G10 as the BoC remains dovish, even if this didn’t push USD/CAD higher”.
“We continue to see a very soft period for data with flat or downside surprises across most of the G10, though North America is starting to inch into positive territory”.