2 Jul 2013
Flash: Markets stable – TD Securities
FXstreet.com (London) - Annette Beacher, Asia Pacific Head of research at TD Securities said that Asia opened in a buoyant mood.
It did so after better European PMIs were joined by a decent rebound in the June US ISM to 50.9 after the sub-50 dip to 49 in the prior month. She said oversold commodities and commodity currencies were bought back and Asia-Pac opened leaving Friday’s price action as a distant memory.
Also, she added, trading was very quiet ahead of the RBA Board announcement. “The on-hold decision was as expected by most analysts, including TD, but leaving the door wide open for easing and comments about “possible further depreciation” continued to dampen the AUD, reversing the overnight rally…all eyes on payrolls Friday for a material input into US Federal Reserve deliberations”.
It did so after better European PMIs were joined by a decent rebound in the June US ISM to 50.9 after the sub-50 dip to 49 in the prior month. She said oversold commodities and commodity currencies were bought back and Asia-Pac opened leaving Friday’s price action as a distant memory.
Also, she added, trading was very quiet ahead of the RBA Board announcement. “The on-hold decision was as expected by most analysts, including TD, but leaving the door wide open for easing and comments about “possible further depreciation” continued to dampen the AUD, reversing the overnight rally…all eyes on payrolls Friday for a material input into US Federal Reserve deliberations”.