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2 Jan 2015
USD continues its march higher – TDS
FXStreet (Barcelona) - The TD Securities Team notes that the USD continued its march higher today in the 1st trading session of 2015, with the Bloomberg USD Index rising 0.4%, near 6 year highs.
Key Quotes
“Volumes and activity were subdued as expected for the 1st trading session of this year. The USD continued its march higher today, +0.4%, the Bloomberg spot USD index near 6 year highs in Singapore.”
“The Yen, NZD and AUD were the primary casualties today, down on average close to 0.55% with Japanese and NZ market closures providing for less than ideal trading conditions. The Yen is currently at it weakest levels for the session at Y120.40, the NZD at US$0.7755 (was trading at US$0.7800 on the open) while the AUD is plumbing the session lows close to US$0.8130.”
“In rates markets, only ACGBs traded and yields have backed up 5-6bps across the curve, but not completely reversing the falls in yield seen on Wednesday. 3yr ACGBs are at 2.185% and 10yrs at 2.87%.”
“Equity markets across our region are posting decent gains, the Hang Seng +0.7%, HSCEI +1.9%, KOSPI +0.6%, ASX +0.5% and India +1.15%.”
“Commodities are stronger in our session, gold +US$5 at US$1187, copper futures are +0.3% and Brent crude front futures are at US$57.57, +0.4%, after hitting new multi year lows on Wednesday.”
Key Quotes
“Volumes and activity were subdued as expected for the 1st trading session of this year. The USD continued its march higher today, +0.4%, the Bloomberg spot USD index near 6 year highs in Singapore.”
“The Yen, NZD and AUD were the primary casualties today, down on average close to 0.55% with Japanese and NZ market closures providing for less than ideal trading conditions. The Yen is currently at it weakest levels for the session at Y120.40, the NZD at US$0.7755 (was trading at US$0.7800 on the open) while the AUD is plumbing the session lows close to US$0.8130.”
“In rates markets, only ACGBs traded and yields have backed up 5-6bps across the curve, but not completely reversing the falls in yield seen on Wednesday. 3yr ACGBs are at 2.185% and 10yrs at 2.87%.”
“Equity markets across our region are posting decent gains, the Hang Seng +0.7%, HSCEI +1.9%, KOSPI +0.6%, ASX +0.5% and India +1.15%.”
“Commodities are stronger in our session, gold +US$5 at US$1187, copper futures are +0.3% and Brent crude front futures are at US$57.57, +0.4%, after hitting new multi year lows on Wednesday.”