6 Jun 2013
Flash: The has been’s and coming’s up in the Forex space – TD Securities
FXstreet.com (London) - TD Securities teams tell us that rising expectations for an RBA rate cut in July, from 30% to 51% according to OIS pricing, pushed AUD lower from $US0.9550 to $US0.9440 overnight, which was the main highlight of the Asian session.
Further, they said, some of this weakness subsided in the European trading amid a rebound in gold and oil prices from their overnight lows, but AUD remains an underperformer at $US0.9510, 0.3% lower from yesterday. Then they explain a 2% slide in Nikkei towards the end of trading had no impact on equities elsewhere, with European markets on balance slightly higher ahead of the ECB rate decision (expect rates unchanged), while S&P futures are 0.3% higher.
Likewise, they mentioned that the EUR/USD is 0.2% stronger today at 1.3117, and we highlight the possibility of some further gains if ECB rates remain unchanged, due to the residual expectations of easing.
They are focusing on the ECB today, but said the main game remains US payrolls tomorrow, with pencils sharpened for downside risk after yesterday’s disappointing labour market indicators.
Further, they said, some of this weakness subsided in the European trading amid a rebound in gold and oil prices from their overnight lows, but AUD remains an underperformer at $US0.9510, 0.3% lower from yesterday. Then they explain a 2% slide in Nikkei towards the end of trading had no impact on equities elsewhere, with European markets on balance slightly higher ahead of the ECB rate decision (expect rates unchanged), while S&P futures are 0.3% higher.
Likewise, they mentioned that the EUR/USD is 0.2% stronger today at 1.3117, and we highlight the possibility of some further gains if ECB rates remain unchanged, due to the residual expectations of easing.
They are focusing on the ECB today, but said the main game remains US payrolls tomorrow, with pencils sharpened for downside risk after yesterday’s disappointing labour market indicators.