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11 Mar 2015
Market Movers: USD enjoying the EUR driven boost, Antipodeans down again – TDS
FXStreet (Barcelona) - Prashant Newnaha, Asia-Pacific Macro Strategist at TD Securities, summarizes the market performance in the Asian trade, noting that AUD and NZD are the worst performers yet again in the G10 FX space, plotting fresh lows.
Key Quotes
“Most G10 currencies are mildly offered vs the USD following the Euro driven 1% surge in the USD overnight. The Eur remains near multi year lows hitting a US$1.0666 low, down -0.15% on the day. The ¥ is down by the same amount in Asia, but it has performed relatively well after reaching ¥122 in overnight trade, currently ¥121.30.”
“Once again the AUD and NZD are the worst G10 performers, both down 0.4% with the AUD breaking below US$0.76 briefly, and the NZD at levels last seen in late 2010, currently at US$0.7250.”
“Bond yields dropped in Asia following the sharp UST and Gilt moves overnight. ACGB yields fell 7-8.5bps, the curve about 1.5bps flatter with NZGB yields dropping 7bps across the curve."
“Asian equity indices are faring much better compared with the overnight US and European losses. Japanese stocks are up close to 0.8%, but other than that it is a mixture of green and red but not in large magnitude.”
“Commodities are trading sideways to smalls up in Asia.”
Key Quotes
“Most G10 currencies are mildly offered vs the USD following the Euro driven 1% surge in the USD overnight. The Eur remains near multi year lows hitting a US$1.0666 low, down -0.15% on the day. The ¥ is down by the same amount in Asia, but it has performed relatively well after reaching ¥122 in overnight trade, currently ¥121.30.”
“Once again the AUD and NZD are the worst G10 performers, both down 0.4% with the AUD breaking below US$0.76 briefly, and the NZD at levels last seen in late 2010, currently at US$0.7250.”
“Bond yields dropped in Asia following the sharp UST and Gilt moves overnight. ACGB yields fell 7-8.5bps, the curve about 1.5bps flatter with NZGB yields dropping 7bps across the curve."
“Asian equity indices are faring much better compared with the overnight US and European losses. Japanese stocks are up close to 0.8%, but other than that it is a mixture of green and red but not in large magnitude.”
“Commodities are trading sideways to smalls up in Asia.”