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13 Mar 2015
Market Movers: USD firmer after overnight pullback – TDS
FXStreet (Barcelona) - Prashant Newnaha, Asia-Pacific Macro Strategist at TD Securities, summarizes the market performance in the Asian trade, mentioning that after witnessing a mild pullback due to yesterday’s US retail data, the USD traded firm in the Asian session.
Key Quotes
“US Retail sales for Feb fell –0.6%, much weaker than the +0.3% pick up the market was expecting, serving as the catalyst for a mild pullback in the USD overnight.”
“In Asia the USD is firmer against all its G10 peers, +0.30% on average, but the DXY has not been able to break above the 100 level. The Euro has returned to what is likely to be a short term pivot point for now at US$1.06, -0.35% today (was at US$1.0635 on the Asian open) , the Yen is -0.15% weaker at ¥121.45, the NZD –0.2% at US$0.7370 with the AUD at US$0.7675, -0.4%, the worst G10 performer.”
“Asian Equity markets are mostly in the green. The Nikkei was the standout, closing above 19000 for the first time since April 2000, +1.75%, while Indian and Australian stocks are the only real underperformers, -0.5%.”
“US 10yrs are close to unchanged in Asia, while ACGB and NZGBs are about 3-4bps higher across the curve.”
“The moves in commodities are moderate but price action is mixed, gold +0.65%, brent futures +0.4%, copper –0.6% while iron ore is unchanged.”
Key Quotes
“US Retail sales for Feb fell –0.6%, much weaker than the +0.3% pick up the market was expecting, serving as the catalyst for a mild pullback in the USD overnight.”
“In Asia the USD is firmer against all its G10 peers, +0.30% on average, but the DXY has not been able to break above the 100 level. The Euro has returned to what is likely to be a short term pivot point for now at US$1.06, -0.35% today (was at US$1.0635 on the Asian open) , the Yen is -0.15% weaker at ¥121.45, the NZD –0.2% at US$0.7370 with the AUD at US$0.7675, -0.4%, the worst G10 performer.”
“Asian Equity markets are mostly in the green. The Nikkei was the standout, closing above 19000 for the first time since April 2000, +1.75%, while Indian and Australian stocks are the only real underperformers, -0.5%.”
“US 10yrs are close to unchanged in Asia, while ACGB and NZGBs are about 3-4bps higher across the curve.”
“The moves in commodities are moderate but price action is mixed, gold +0.65%, brent futures +0.4%, copper –0.6% while iron ore is unchanged.”