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15 May 2015
Market Movers: Antipodeans down as G10 FX trades mixed – TDS
FXStreet (Barcelona) - Prashant Newnaha, Strategist at TD Securities, summarizes the forex and bond market performance during the Asian trading session.
Key Quotes
“A fairly thin trading session to end the week with no major regional data releases in Asia today and few catalysts ahead of London open.”
“G10 currencies are mixed, but the moves are near to unchanged for most crosses. The exceptions are the AUD and NZD that are down between 0.2-0.3%, the move occurring close to the time that Fonterra announced it was cutting forecast volumes. The Yen is 0.15% weaker, otherwise little movement elsewhere.”
“It appears some support is returning to fixed income - US 10yrs are down 1.5bps in yield today, ACGBs 5-7bps lower in yield, with the long end outperforming and NZGB yields 4bps lower across the curve.”
“Even with the SPX hitting new highs overnight, there are no uniform moves in Asia. Chinese equities are down 1.5%, with the rest of the region chalking up gains around 0.5%. In the commodity patch, gold is little changed, but remains just above its 200d moving average, copper –0.1%, brent unchanged and iron ore futures –0.5%.”
Key Quotes
“A fairly thin trading session to end the week with no major regional data releases in Asia today and few catalysts ahead of London open.”
“G10 currencies are mixed, but the moves are near to unchanged for most crosses. The exceptions are the AUD and NZD that are down between 0.2-0.3%, the move occurring close to the time that Fonterra announced it was cutting forecast volumes. The Yen is 0.15% weaker, otherwise little movement elsewhere.”
“It appears some support is returning to fixed income - US 10yrs are down 1.5bps in yield today, ACGBs 5-7bps lower in yield, with the long end outperforming and NZGB yields 4bps lower across the curve.”
“Even with the SPX hitting new highs overnight, there are no uniform moves in Asia. Chinese equities are down 1.5%, with the rest of the region chalking up gains around 0.5%. In the commodity patch, gold is little changed, but remains just above its 200d moving average, copper –0.1%, brent unchanged and iron ore futures –0.5%.”