USD weakens in the Asian session, EUR outperforms – TDS

FXStreet (Barcelona) - Prashant Newnaha, Asia-Pacific Macro Strategist at TD Securities, summarizes the market performance during the Asian trade, noting that USD continued to weaken among G10 FX, with EUR and NOK coming out as the top performers.

Key Quotes

“The USD continued to weaken in Asia, following on from the move lower on the weak Chicago PMI. All G10 crosses are firmer vs the USD, registering average gains of +0.4% with the better China data providing a mild bid for risk.”

“EUR and NOK are outperformers at +0.5%, AUD +0.45% while the NZD is flat.”

“US yields are 1bps higher in Asian trade, and ACGB yields are +2.5bps across the curve.”

“Major regional equities are down a uniform 0.5% but again Chinese stocks are up +1.5% to fresh multi year highs.”

“The commodities complex is broadly firmer save for flat Brent futures and iron ore. Gold is near US$1190oz, +0.4% and copper futures +0.55%.”