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24 Feb 2015
Market Movers: USD strong, Markets sentiment positive for EU/Greece – TDS
FXStreet (Barcelona) - Prashant Newnaha, Asia-Pacific Macro Strategist at TD Securities, summarises the market performance in the Asian trade, noting that USD was strong against its G10 peers.
Key Quotes
“Despite Greece failing to lodge their list of policies by close of business yesterday to secure a 4 month debt extension, markets appear optimistic there is unlikely to be much opposition to the proposals when they are delivered today.”
“Asian equity markets are trading near 5 month highs, led by the Nikkei +0.6%, with Korea +0.4%, Australia +0.3% while the Hang Seng is off 0.5% and India –0.1%.”
“In FX, the USD is stronger against all G10 peers heading into Fed Chair Yellen’s two day testimony beginning today.”
“The NZD is the worst G10 performer –0.7% to US$0.7470, following 2yr inflation expectations dropping to 16yr lows.”
“The AUD is down -0.4% to US$0.7770, with the ¥ down 0.25% to ¥119.10. The € is 0.05% weaker heading into the London session.”
“ACGB and NZGB yields drifted lower, short end ACGB yields 1bps lower, while ACGB 10yrs and the entire NZ curve was 3 bps lower in yield.”
“Gold continues to flirt with the US$1200 level, trading as low as US$1201 while copper is 0.6% weaker and oil is unchanged.“
Key Quotes
“Despite Greece failing to lodge their list of policies by close of business yesterday to secure a 4 month debt extension, markets appear optimistic there is unlikely to be much opposition to the proposals when they are delivered today.”
“Asian equity markets are trading near 5 month highs, led by the Nikkei +0.6%, with Korea +0.4%, Australia +0.3% while the Hang Seng is off 0.5% and India –0.1%.”
“In FX, the USD is stronger against all G10 peers heading into Fed Chair Yellen’s two day testimony beginning today.”
“The NZD is the worst G10 performer –0.7% to US$0.7470, following 2yr inflation expectations dropping to 16yr lows.”
“The AUD is down -0.4% to US$0.7770, with the ¥ down 0.25% to ¥119.10. The € is 0.05% weaker heading into the London session.”
“ACGB and NZGB yields drifted lower, short end ACGB yields 1bps lower, while ACGB 10yrs and the entire NZ curve was 3 bps lower in yield.”
“Gold continues to flirt with the US$1200 level, trading as low as US$1201 while copper is 0.6% weaker and oil is unchanged.“