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4 Oct 2013
Flash: AUD and JPY mixed up with political drama – TD Securities
FXstreet.com (London) - Research teams at TD Securities said that this last week featured political drama, with Italy having a happy ending, but US gridlock still on going as the government has remained shut all week, delaying the September nonfarm payrolls report.
Key Quotes:
“Markets have so far taken the shutdown in stride, but will become more nervous if it drags into next week and the funding extension gets mixed up in the debt ceiling negotiations. G10 data surprises continue to normalize…”
“Australia was the big mover in rates markets with a less dovish than expected RBA, while most of the rest of the G10 saw slightly lower yields on political turmoil, with equities losing some ground as well. Japan was the under-performer there in response to the upcoming tax hike”.
Key Quotes:
“Markets have so far taken the shutdown in stride, but will become more nervous if it drags into next week and the funding extension gets mixed up in the debt ceiling negotiations. G10 data surprises continue to normalize…”
“Australia was the big mover in rates markets with a less dovish than expected RBA, while most of the rest of the G10 saw slightly lower yields on political turmoil, with equities losing some ground as well. Japan was the under-performer there in response to the upcoming tax hike”.