8 Dec 2014
Risk sentiment deteriorating through European session – TDS
FXStreet (Barcelona) - The TD Securities Team notes that the softer Chinese and German data has been deteriorating the risk sentiment in the European session.
Key Quotes
“Risk sentiment has been deteriorating through the European session, as softer Chinese trade details and weaker German IP trumped the better momentum from Friday’s strong nonfarm payrolls report. European equities are down around 0.5% on the day, and bund yields have been sliding toward Thursday’s lows.”
“US yields have been holding up a little better, and while they’ve come off their overnight highs, they’re still trading near Friday’s post-payrolls highs as the US outlook is much more resilient.”
“In FX, we’ve seen AUD bounce off fresh cyclical lows of 0.8260 and is now nearly back to flat on the day vs the USD, while NZD has been underperforming, likely on dovish RNBZ expectations for later this week, while NOK and SEK have also been losing ground as crude oil prices have hit fresh multi-year lows.”
“USDCAD is little changed from Friday’s close, so may end up playing some catch-up as North America walks in.”
Key Quotes
“Risk sentiment has been deteriorating through the European session, as softer Chinese trade details and weaker German IP trumped the better momentum from Friday’s strong nonfarm payrolls report. European equities are down around 0.5% on the day, and bund yields have been sliding toward Thursday’s lows.”
“US yields have been holding up a little better, and while they’ve come off their overnight highs, they’re still trading near Friday’s post-payrolls highs as the US outlook is much more resilient.”
“In FX, we’ve seen AUD bounce off fresh cyclical lows of 0.8260 and is now nearly back to flat on the day vs the USD, while NZD has been underperforming, likely on dovish RNBZ expectations for later this week, while NOK and SEK have also been losing ground as crude oil prices have hit fresh multi-year lows.”
“USDCAD is little changed from Friday’s close, so may end up playing some catch-up as North America walks in.”