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14 Apr 2015
Market Movers: JPY outperforms on Abe advisor’s comments – TDS
FXStreet (Barcelona) - Prashant Newnaha, Strategist at TD Securities, summarizes the market performance in the Asian trade.
Key Quotes
“There was no market moving data released today leaving regional markets in listless trade. The Japanese PM’s advisor reiterated comments made yesterday stating that Yen weakness was overdone, encouraging JPY to trade back below 120.”
“The yen is the best G10 performer today, +0.2%, the CAD and NZD are up +0.1%, the AUD is unchanged (US$0.7590), with the remainder of the G10 down on average 0.15%.”
“Of the underperformers, the Euro is the weakest, down 0.2% to US1.0550.”
“Despite strong NZ housing data, NZGB yields drifted to 1mth lows, while the decline in iron ore and WA on negative credit watch drove ACGB yields down by 2.5-3.5bps.”
“Equity markets are mixed again. Developed markets are a touch weaker and while the HSCEI is off 0.5% today after the 23% rise seen over the past two weeks, Chinese equities are up 0.8%.”
“Commodities are mildly stronger, iron ore futures are +3.5%, copper futures +0.2%, gold is just under US$1200 and Brent crude futures are up nearly 1% to US$58.50.”
Key Quotes
“There was no market moving data released today leaving regional markets in listless trade. The Japanese PM’s advisor reiterated comments made yesterday stating that Yen weakness was overdone, encouraging JPY to trade back below 120.”
“The yen is the best G10 performer today, +0.2%, the CAD and NZD are up +0.1%, the AUD is unchanged (US$0.7590), with the remainder of the G10 down on average 0.15%.”
“Of the underperformers, the Euro is the weakest, down 0.2% to US1.0550.”
“Despite strong NZ housing data, NZGB yields drifted to 1mth lows, while the decline in iron ore and WA on negative credit watch drove ACGB yields down by 2.5-3.5bps.”
“Equity markets are mixed again. Developed markets are a touch weaker and while the HSCEI is off 0.5% today after the 23% rise seen over the past two weeks, Chinese equities are up 0.8%.”
“Commodities are mildly stronger, iron ore futures are +3.5%, copper futures +0.2%, gold is just under US$1200 and Brent crude futures are up nearly 1% to US$58.50.”