24 Mar 2015
Market Movers: Soft USD trend continues – TDS
FXStreet (Barcelona) - Prashant Newnaha, Asia-Pacific Macro Strategist at TD Securities, summarizes the market performance during the Asian trade.
Key Quotes
“The EUR and commodity currencies outperformed in US trade overnight, continuing the weaker USD trend since the not-hawkish FOMC meeting last week. While the USD is marginally stronger in our time zone, +0.2%, it is not directional and underscored by the weak PMIs reads in Asia failing to give the USD a decent lift as is traditionally the case. The Yen and the NZD are up +0.1%, but the other G10 crosses down smalls.”
“Our equity and bond markets are tracking sideways. The number of equity indices either in the green or red is evenly split as is the magnitude, +/-0.4%.”
“NZGB yields are down 0.5bps across the curve, 3yrs ACGBs are unchanged, 10yr ACGBs –1.5bps."
“The weak China PMI outcome saw copper give up much of the overnight gains and is unchanged from this time yesterday. Brent is down 0.7%, gold is unchanged, but iron ore futures are +1.4%.”
Key Quotes
“The EUR and commodity currencies outperformed in US trade overnight, continuing the weaker USD trend since the not-hawkish FOMC meeting last week. While the USD is marginally stronger in our time zone, +0.2%, it is not directional and underscored by the weak PMIs reads in Asia failing to give the USD a decent lift as is traditionally the case. The Yen and the NZD are up +0.1%, but the other G10 crosses down smalls.”
“Our equity and bond markets are tracking sideways. The number of equity indices either in the green or red is evenly split as is the magnitude, +/-0.4%.”
“NZGB yields are down 0.5bps across the curve, 3yrs ACGBs are unchanged, 10yr ACGBs –1.5bps."
“The weak China PMI outcome saw copper give up much of the overnight gains and is unchanged from this time yesterday. Brent is down 0.7%, gold is unchanged, but iron ore futures are +1.4%.”