5 Mar 2015
Market Movers: USD strong, NZD loses 0.6% in the Asian trade – TDS
FXStreet (Barcelona) - Prashant Newnaha, Asia-Pacific Macro Strategist at TD Securities, summarizes the market performance in the Asian trade, noting that NZD is the clear mover for the day, losing 0.6%, while yields are broadly unchanged.
Key Quotes
“The USD strengthened in overnight trade with the DXY hitting the best levels since 2003, mainly on the back of the EUR plumbing 12yr lows. We saw the USD add to the overnight gains during our session, up on average by 0.3% vs its G10 peers.”
“The standout move in G10 today was the NZD, losing 0.6% to US$0.7535 after the RBNZ signalled it was looking at measures that would enable the Bank to better implement macro prudential polices (we read this as opening the way for the RBNZ to cut rates).”
“The AUD (US$0.7810) is the best performer vs the USD today, that although is down 0.1% was supported on RBA Deputy Gov comments that the unit is closer to fair value than in previous years.”
“ACGB yields are up about 1bp across the curve and NZGB yields are broadly unchanged.”
“Chinese equities are again leading the declines, off 1.5%, Japanese stocks +0.2% while other indices are close to unchanged.”
“Most commodities are unchanged, but iron ore futures are off 3.3% in Chinese trade.”
Key Quotes
“The USD strengthened in overnight trade with the DXY hitting the best levels since 2003, mainly on the back of the EUR plumbing 12yr lows. We saw the USD add to the overnight gains during our session, up on average by 0.3% vs its G10 peers.”
“The standout move in G10 today was the NZD, losing 0.6% to US$0.7535 after the RBNZ signalled it was looking at measures that would enable the Bank to better implement macro prudential polices (we read this as opening the way for the RBNZ to cut rates).”
“The AUD (US$0.7810) is the best performer vs the USD today, that although is down 0.1% was supported on RBA Deputy Gov comments that the unit is closer to fair value than in previous years.”
“ACGB yields are up about 1bp across the curve and NZGB yields are broadly unchanged.”
“Chinese equities are again leading the declines, off 1.5%, Japanese stocks +0.2% while other indices are close to unchanged.”
“Most commodities are unchanged, but iron ore futures are off 3.3% in Chinese trade.”