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27 Mar 2015
Market Movers: Yields higher, Commodity currencies down – TDS
FXStreet (Barcelona) - Prashant Newnaha, Asia-Pacific Macro Strategist at TD Securities, summarizes the market performance in the Asian trade, noting that ACGBs and NZGBs yields are higher, while commodity currencies are the biggest losers in G10 space.
Key Quotes
“The USD’s advance in overnight US trade took a breather in Asia with the DXY a touch weaker, down 0.05%.”
“In the G10 space the commodity currencies were the primary laggards, with the AUD leading the moves lower , -0.35% following the limit down move in iron ore and weaker steel prices in China. The NZD is –0.25% and the CAD is –0.2%.”
“Following the +12bps rise in US 10yr yields to briefly break above 2%, US 10yrs are a touch under 2% in Asia. ACGB and NZGB yields have moved higher on the overnight UST move, ACGB 3s +4bps, 10s +8bps while NZGBs are +6bps across the curve.”
“Once again, mixed moves in equities. Chinese stocks are +0.5% higher, Australian stocks +0.7%, but Japanese stocks have underperformed –1%.”
“Commodities are generally softer, front month Brent futures –1.8%, copper futures –0.6%, iron ore futures –5.6% and gold is close to unchanged , holding US$1200.”
Key Quotes
“The USD’s advance in overnight US trade took a breather in Asia with the DXY a touch weaker, down 0.05%.”
“In the G10 space the commodity currencies were the primary laggards, with the AUD leading the moves lower , -0.35% following the limit down move in iron ore and weaker steel prices in China. The NZD is –0.25% and the CAD is –0.2%.”
“Following the +12bps rise in US 10yr yields to briefly break above 2%, US 10yrs are a touch under 2% in Asia. ACGB and NZGB yields have moved higher on the overnight UST move, ACGB 3s +4bps, 10s +8bps while NZGBs are +6bps across the curve.”
“Once again, mixed moves in equities. Chinese stocks are +0.5% higher, Australian stocks +0.7%, but Japanese stocks have underperformed –1%.”
“Commodities are generally softer, front month Brent futures –1.8%, copper futures –0.6%, iron ore futures –5.6% and gold is close to unchanged , holding US$1200.”