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4 Mar 2015
Mid-market update: EUR and GBP soft, EU equities weaker – TDS
FXStreet (Barcelona) - Paul Fage, Senior Emerging Markets Strategist at TD Securities, summarizes the DM and EM market performance, noting that European Fixed income and equities are trading soft, while the FX picture is mixed.
Key Quotes
“In DM FX a mixed picture. Against USD, EUR is down 0.5% and GBP is down 0.2%, the latter helped lower by the weaker than expected Services PMI data.”
“JPY slightly stronger. AUD and NZD both stronger, up 0.2% and 0.45% respectively.”
“In India the surprise 25 bp cut by the RBI caused the Sensex to briefly move above 30,000, but subsequently it has given up all of its gains and more. USDINR is up 0.55% after initially falling on news of the cut. Other EM FX is also mostly weaker against USD.”
“European equity markets are generally weaker.”
“Fixed income is mainly slightly weaker with 10y UST +0.5 bp and 10y bunds +1.0 bp, but some Eurozone peripherals have rallied.”
“Brent Oil is down 0.6%. Base metals slightly stronger, precious metals are weaker.”
Key Quotes
“In DM FX a mixed picture. Against USD, EUR is down 0.5% and GBP is down 0.2%, the latter helped lower by the weaker than expected Services PMI data.”
“JPY slightly stronger. AUD and NZD both stronger, up 0.2% and 0.45% respectively.”
“In India the surprise 25 bp cut by the RBI caused the Sensex to briefly move above 30,000, but subsequently it has given up all of its gains and more. USDINR is up 0.55% after initially falling on news of the cut. Other EM FX is also mostly weaker against USD.”
“European equity markets are generally weaker.”
“Fixed income is mainly slightly weaker with 10y UST +0.5 bp and 10y bunds +1.0 bp, but some Eurozone peripherals have rallied.”
“Brent Oil is down 0.6%. Base metals slightly stronger, precious metals are weaker.”