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26 Jan 2015
Market Movers: Greek election results dominate early Asian trade – TDS
FXStreet (Barcelona) - The TD Securities Team shares the market performance in the Asian session, noting that Greek election results dominated the Asian trade with Syriza’s victory pushing EUR to US$ 1.11 before the pair rebounded higher.
Key Quotes
“Greek election results dominated early Asian trade with news that the anti-austerity Party, Syriza, secured a bigger share of the vote than expected, providing an initial USD bid. This saw the EUR touch US$1.11 but rebounded to US$1.12, trading close to there thereafter.”
“The AUD traded lower on the USD bid, hitting a low of US$0.7855 as speculation continues to intensify whether the RBA could move to an easing bias if CPI is low, now –0.2%.”
“In SYCOM trading, 3yrs traded at an implied yield of 2.01% and the 10yrs at 2.505%.”
“NZ bond yields were 6bps lower across the curve while US Treasuries were bid, particularly the 30yr, hitting a new low of 2.333%.”
“It was fairly quiet in equity markets. Japanese stocks are off 0.4%, China stocks are +0.2% while Australian and Indian markets are closed (Australia Day and Republic Day respectively).”
“Commodities continue to trade soft, iron ore futures trading near 2 month lows, -2%, copper –2.2%, Brent crude –0.8% but gold is down only US$1 to US$1293.”
Key Quotes
“Greek election results dominated early Asian trade with news that the anti-austerity Party, Syriza, secured a bigger share of the vote than expected, providing an initial USD bid. This saw the EUR touch US$1.11 but rebounded to US$1.12, trading close to there thereafter.”
“The AUD traded lower on the USD bid, hitting a low of US$0.7855 as speculation continues to intensify whether the RBA could move to an easing bias if CPI is low, now –0.2%.”
“In SYCOM trading, 3yrs traded at an implied yield of 2.01% and the 10yrs at 2.505%.”
“NZ bond yields were 6bps lower across the curve while US Treasuries were bid, particularly the 30yr, hitting a new low of 2.333%.”
“It was fairly quiet in equity markets. Japanese stocks are off 0.4%, China stocks are +0.2% while Australian and Indian markets are closed (Australia Day and Republic Day respectively).”
“Commodities continue to trade soft, iron ore futures trading near 2 month lows, -2%, copper –2.2%, Brent crude –0.8% but gold is down only US$1 to US$1293.”