FXStreet (Barcelona) – Paul Fage, Senior Emerging Markets Strategist at TD Securities, summarizes the financial market performance during the European trade, sharing his observations on DM FX, EM FX and Fixed income markets.
Key Quotes
“With all eyes on the FOMC, a mixed picture today in FX, with DXY down 0.15%. In DM FX, GBP is the outperformer, boosted by the strong wage data. The underperformers are AUD, and NZD, both down about 0.8% on the day, possibly in response to weaker iron ore futures. EUR is slightly stronger, JPY weaker.”
“In EM FX, generally modest moves against USD. USDRUB is up 0.45% in spite of higher oil prices. USDZAR is up 0.5% mainly on comments from Finance Minister Nene that the economic recovery in South Africa is slower than anticipated; the slightly stronger than expected CPI data release had little impact.”
“Mixed picture in fixed income. 10y gilts +6.0bps on strong employment data, 10y bunds +1.1bps and 10y UST +2.5bps. However, EZ peripherals, including Greece, are rallying.”
“Asian stocks mixed. The Shanghai closed up 1.7%, but was at one point down 2.5%. European equities are mainly weaker.”
“Brent oil is up 1.9%. Base metals are mainly stronger, precious metals are weaker.”
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