FXStreet (Barcelona) – Prashant Newnaha, Strategist at TD Securities, summarizes the financial market performance during the Asian trading session, noting that DXY trades mostly unchanged while ACGB and NZGB staged a decent back up post the overnight rout.
Key Quotes
“The overnight rout in fixed income saw ACGB and NZGB yields stage a decent back up with 10yr ACGBs +15bps to the year’s highs while the 3yrs are +5bps. The NZGB curve has outperformed on this backup in yields, the 10yrs up close to 10bps, and the short end <5bps, ahead of next week’s RBNZ MPS where expectations are high for the RBNZ to move to an explicit easing bias or cut rates 25bps.”
“The AUD is the G10 underperformer today, off 0.7%, currently US$0.7725, the NZD –0.3% to US$0.7130 but the DXY is little changed today, remaining below the 50d and 100d moving averages.”
“Regional equites are weaker, led by a 5.3% decline in the SHCOMP. Japan really is the only index up on the day, +0.3%.”
“Commodities are little changed, but iron ore futures are down close to 1%.”
(Market News Provided by FXstreet)