In a market wrap as we enter the Asian shift, analysts at TD Securities explained that the markets remain in a risk-off holding pattern with North American equities posting another sizeable loss (SPX: -1.9%, TSX: -1.2%) following the overnight rout.
"Treasuries gained on a mix of sentiment and data after a miss on US CPI, which saw the long-end rally by nearly 3bps to flatten the curve while Canadian rates outperformed across the front-end and belly."
"The risk-off tone did little to help the USD, which saw a broad-based decline against G10 FX. SEK (+1.8%) led the advance on stronger-than-expected CPI while the antipodes (NZD: +1.2%, AUD: +0.9%) also outperformed. CAD (+0.2%) underperformed on the crosses amid a sharp drop in crude oil prices (WTI: -3.3%)."
"RBA’s semi-annual Financial Stability Review is released. Housing finance for Aug is expected to pick up a little (+0.3%, "mkt -1%), and continuing the post-macroprudential environment where owner-occupiers are picking up the slack from departing investors."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.