Asia open: lower dollar as a foundation for today's open - TDS

Ross J Burland FXStreet

Analysts at TD Securities, (TDS), explained offered a snapshot of Friday's closing session ahead of Asia's open.

Key Quotes:

"Markets closed the week on an upbeat note with North American equities posting a broad rally (SPX: +0.8%, TSX: +0.6%) at the time of publication after a strong European session."

"Strong Canadian data helped drive a 6bp selloff in front-end Canadian rates as the curve bear-flattened, while US rates were only 1-2bp higher."

"The USD traded on its back foot into the weekend, losing ground against most of the G10, while JPY (-0.2%) was the sole currency to underperform amid a better risk backdrop"

"EUR (+0.9%) rallied on progress on immigration at the EU summit and CAD (+0.8%) strengthened on better-than-expected GDP data."

"Manufacturing PMIs and Australian inflation are the main risk events for Monday."

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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