FXStreet (Delhi) – Prashant Newnaha, Rates Strategist at TD Securities, notes that after the mixed Chinese data yesterday, mainland’s equities are down again as no specific tone for the Monday open was on offer and risk aversion amongst investors is forcing the money out of riskier assets.
Key Quotes
“There is a sense of relief that the FOMC decision is nearly upon us, and TD looks for a hawkish no-hike. The AUD and NZD gave up their earlier advance in Asia with today’s 3% drop in Chinese equities dragging regional equities lower and taking risk sentiment with it.”
“The AUD got to a US$0.7136 intraday high, the NZD to US$0.6345 but both are back to opening levels. Otherwise the rest of the G10 is firmer vs the USD, the Yen +0.2% and NOK +0.35% the standouts.”
“Following the Shanghai composite decline, the Nikkei is next worst, off 1.5% and the Kospi –1%. UST10yrs are unchanged in Asia at 2.18%, but they did have a solid session on Friday.”
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