10 Jul 2013
Flash: Eyes on FOMC – TD Securities
FXstreet.com (London) - Research Teams at TD Securities said an upbeat overnight session generated a positive open for Asia-Pac markets, with equities opening higher and commodity currencies outperforming.
“Enthusiasm faded as the morning unfolded as Australian consumer sentiment did not improve despite recent favourable events and Chinese trade data headlines were beyond disappointing as both exports and imports contracted in June compared with a year ago.” They said most equity markets remained positive by lunchtime, but only just, while short bonds rallied, steepening the ACGB and NZGB curves even further. "All eyes on the FOMC minutes and the subsequent Bernanke speech. Tomorrow the marquee Asia-Pac event is Australia’s employment report—we expect the good vibes from the US and Canadian reports of last week to percolate into this report".
“Enthusiasm faded as the morning unfolded as Australian consumer sentiment did not improve despite recent favourable events and Chinese trade data headlines were beyond disappointing as both exports and imports contracted in June compared with a year ago.” They said most equity markets remained positive by lunchtime, but only just, while short bonds rallied, steepening the ACGB and NZGB curves even further. "All eyes on the FOMC minutes and the subsequent Bernanke speech. Tomorrow the marquee Asia-Pac event is Australia’s employment report—we expect the good vibes from the US and Canadian reports of last week to percolate into this report".