13 Feb 2015
Market Movers: USD down against its G10 peers – TDS
FXStreet (Barcelona) - Prashant Newnaha, Asia-Pacific Macro Strategist at TD Securities, shares the market performance in the Asian Trade, noting that USD continued to trade soft against all of its G10 peers.
Key Quotes
“Weaker US retail sales saw the USD continue to push lower in Asia, down against all G10 peers. The AUD is the best performer today +0.7% to US$0.7780, helped along by comments from RBA Governor Steven’s suggesting a lower probability to back to back rate cuts at his semi annual testimony.”
“Meanwhile the Yen is +0.5% to ¥118.65 as JGB yields crack above key moving averages, following a poor 5yr bond auction, drawing the lowest bid-cover ratio since Apr 2013.”
“The NZD is +0.45% to US$0.7450 and the EUR is +0.3% to US$1.1435.”
“Equities are up across the region, driven higher on positive US equity price action and hopes a deal between Greek and German officials is reached ahead of Eurogroup talks on Monday. Although the Nikkei is off 0.3%, Chinese stocks are up +1.75%, the Australian index is surging +2.3% to fresh multi year highs, HK stocks +1% and India is up +0.3%.”
“US treasury yields are unchanged in Asia, ACGB yields are down 2-3.5bps while NZGB yields are 4.5bps lower.”
“Commodities are having a better day. Gold has a tailwind heading into London, +US$7 close to US$1230, copper futures +1%, iron ore futures +2.3% and brent futures are +1% to US$59.85.”
Key Quotes
“Weaker US retail sales saw the USD continue to push lower in Asia, down against all G10 peers. The AUD is the best performer today +0.7% to US$0.7780, helped along by comments from RBA Governor Steven’s suggesting a lower probability to back to back rate cuts at his semi annual testimony.”
“Meanwhile the Yen is +0.5% to ¥118.65 as JGB yields crack above key moving averages, following a poor 5yr bond auction, drawing the lowest bid-cover ratio since Apr 2013.”
“The NZD is +0.45% to US$0.7450 and the EUR is +0.3% to US$1.1435.”
“Equities are up across the region, driven higher on positive US equity price action and hopes a deal between Greek and German officials is reached ahead of Eurogroup talks on Monday. Although the Nikkei is off 0.3%, Chinese stocks are up +1.75%, the Australian index is surging +2.3% to fresh multi year highs, HK stocks +1% and India is up +0.3%.”
“US treasury yields are unchanged in Asia, ACGB yields are down 2-3.5bps while NZGB yields are 4.5bps lower.”
“Commodities are having a better day. Gold has a tailwind heading into London, +US$7 close to US$1230, copper futures +1%, iron ore futures +2.3% and brent futures are +1% to US$59.85.”