25 Mar 2015
Market Movers: Equities and FX muted in the Asian trade – TDS
FXStreet (Barcelona) - Prashant Newnaha, Asia-Pacific Macro Strategist at TD Securities, summarizes the market performance – FX, Equities, Yields and Commodities during the Asian trading session.
Key Quotes
“It was a consolidation day keeping moves in fx and equities muted. DXY is unchanged, NZD slightly underperformed in G10 space, -0.2%, the Yen the best performer, +0.1%, while other crosses are awash on either side of the ledger.”
“Ditto equities. Aside from SHCOMP –1% regional indices are +/- 0.5%, with a slight bias towards net negative.”
“Fixed income has a firm bid today, ACGBs and NZGBs taking their lead from the bullish price action in UST overnight despite firmer inflation. ACGB 3yrs are at fresh yield lows, at 1.73%, -3bps, 10yrs –5bps at 2.325% and the NZGBs 10yrs are –4.5bps at 3.18%.”
“Commodities are mixed, Gold is –US$5 just below US$1190, Brent futures are unchanged at US$55.15, copper futures are –0.2% and iron ore futures are down 1%.”
“As our EM team highlighted yesterday, the BCB made an announcement regarding FX intervention, stating the swap program would cease on March 31st.”
Key Quotes
“It was a consolidation day keeping moves in fx and equities muted. DXY is unchanged, NZD slightly underperformed in G10 space, -0.2%, the Yen the best performer, +0.1%, while other crosses are awash on either side of the ledger.”
“Ditto equities. Aside from SHCOMP –1% regional indices are +/- 0.5%, with a slight bias towards net negative.”
“Fixed income has a firm bid today, ACGBs and NZGBs taking their lead from the bullish price action in UST overnight despite firmer inflation. ACGB 3yrs are at fresh yield lows, at 1.73%, -3bps, 10yrs –5bps at 2.325% and the NZGBs 10yrs are –4.5bps at 3.18%.”
“Commodities are mixed, Gold is –US$5 just below US$1190, Brent futures are unchanged at US$55.15, copper futures are –0.2% and iron ore futures are down 1%.”
“As our EM team highlighted yesterday, the BCB made an announcement regarding FX intervention, stating the swap program would cease on March 31st.”