Market wrap: risk-on, antipodeans outperformed - Westpac
|Analysts at Westpav offered a market wrap.
Key Quotes:
"Global market sentiment: Most equity markets gained, as did oil, helping pro-risk currencies AUD and NZD rise further. Canada’s central bank remained on hold as expected.
Interest rates: US 10yr treasury yields fluctuated between 1.73% and 1.77%, while the 2yr yield likewise between 0.79% and 0.82%.
Currencies: The US dollar index continued to range sideways, locked in a consolidation pattern at a multi-month high. USD/CAD initially fell to 1.3007 in response to the BoC, but quickly retraced and is currently higher at 1.3125. EUR fell from 1.1000 to 1.0955 – a three-month low. USD/JPY fell from 103.80 to 103.17. Outperformer AUD broke higher, from 0.7660 to 0.7728. NZD also rose, from 0.7105 to 0.7249./ AUD/NZD rose from 1.0630 to 1.0687."
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