17 Jun 2015
Market Movers: AUD and NZD underperform in G10 FX space – TDS
FXStreet (Barcelona) - Prashant Newnaha, Strategist at TD Securities, summarizes the financial market performance during the Asian trading session.
Key Quotes
“Regional markets ignored today’s NZ and Japan trade releases with investor interest centred squarely on the Fed and Eurogroup meetings.”
“The DXY is little changed on the day, the EUR is mildly firmer, +0.1%, the Yen slightly weaker, but it’s the AUD and NZD that are the G10 underperformers today, 0.4% and 0.3% lower respectively. It feels like the AUD and NZD moves are linked to China, with Chinese stocks giving up as much as 8% from the 7yr highs hit on Monday, while iron ore and steel rebar futures are weaker.”
“ACGB yields are 4bps lower across the curve, NZGBs 1bp lower at best while US 10yrs are 0.5bps richer.”
“Nearly all commodities are unchanged. Only iron ore futures are down 3.5% today and 7.5% from the local highs hit last week.”
Key Quotes
“Regional markets ignored today’s NZ and Japan trade releases with investor interest centred squarely on the Fed and Eurogroup meetings.”
“The DXY is little changed on the day, the EUR is mildly firmer, +0.1%, the Yen slightly weaker, but it’s the AUD and NZD that are the G10 underperformers today, 0.4% and 0.3% lower respectively. It feels like the AUD and NZD moves are linked to China, with Chinese stocks giving up as much as 8% from the 7yr highs hit on Monday, while iron ore and steel rebar futures are weaker.”
“ACGB yields are 4bps lower across the curve, NZGBs 1bp lower at best while US 10yrs are 0.5bps richer.”
“Nearly all commodities are unchanged. Only iron ore futures are down 3.5% today and 7.5% from the local highs hit last week.”