20 Mar 2015
Market Movers: G10 firmer vs the USD - TDS
FXStreet (Barcelona) - Prashant Newnaha, Asia-Pacific Macro Strategist at TD Securities, summarizes the key events and the market performance during the Asian trade.
Key Quotes
“US data released overnight was a mixed bag (Mar Philly Fed at 5 vs 7, Jobless claims 291k vs 293k exp, Feb LEI +0.2%/m as exp) providing no material hints for Asian trading.”
“It was fairly thin on the data front in Asia too, but the market did get positive comments from Merkel stating that the Greek PM has given assurances to implement the Eurogroup’s Feb 20 decisions. The RBA Governor’s speech contained little new news.”
“The DXY has given back some of the overnight gains, -0.35% with all G10 crosses firmer vs the USD. The AUD is the best performer up close to +0.5% to US$0.7685, the NZD +0.45% to US$0.7445. EUR +0.25% at US$1.0685 and the Yen is unchanged at ¥120.70.”
“ACGB and NZGB yields are up, but not by as much as the UST move overnight. ACGB 3yrs –1.5bps, 10yrs +3.5bps (perhaps in response to a new 2035 $A3-5b coming soon) and NZGBs are up 2bps across the curve as there is scant appetite for cuts there.”
“Most commodities are down a touch after some strength overnight while Asian equity indices are mostly in the green, led by China +1%. ASX at a seven-year high.”
Key Quotes
“US data released overnight was a mixed bag (Mar Philly Fed at 5 vs 7, Jobless claims 291k vs 293k exp, Feb LEI +0.2%/m as exp) providing no material hints for Asian trading.”
“It was fairly thin on the data front in Asia too, but the market did get positive comments from Merkel stating that the Greek PM has given assurances to implement the Eurogroup’s Feb 20 decisions. The RBA Governor’s speech contained little new news.”
“The DXY has given back some of the overnight gains, -0.35% with all G10 crosses firmer vs the USD. The AUD is the best performer up close to +0.5% to US$0.7685, the NZD +0.45% to US$0.7445. EUR +0.25% at US$1.0685 and the Yen is unchanged at ¥120.70.”
“ACGB and NZGB yields are up, but not by as much as the UST move overnight. ACGB 3yrs –1.5bps, 10yrs +3.5bps (perhaps in response to a new 2035 $A3-5b coming soon) and NZGBs are up 2bps across the curve as there is scant appetite for cuts there.”
“Most commodities are down a touch after some strength overnight while Asian equity indices are mostly in the green, led by China +1%. ASX at a seven-year high.”