Back
9 Apr 2013
Forex Flash: USD/JPY races towards 100.00 - TD Securities
FXstreet.com (Barcelona) - TD Securities analysts note that Italy and Cyprus are passé for market risk, it was all about USDJPY racing towards 100 overnight.
For the region, they see that weak JPY meant record highs reached for the AUD and NZD on a trade-weighted basis, with tightening financial conditions likely on the radar of Antipodean central banks. Further, Yen depreciation paused during the Asia-Pac session, but all eyes are on the next key 100 barrier. They note that Asia-Pac data were mixed, with upbeat business sentiment in New Zealand contrasting with ongoing self-pity held by Australian counterparts. Elsewhere, Chinese inflation data retraced as expected, all eyes on trade tomorrow and GDP next week. They finish by writing, “Nevertheless it was a risk on session with AUD and NZD firmer on the day, although CAD weighed down by a string of weak data releases, while most Asia-Pac equity markets are around ½% higher so far today, even the Nikkei up another +0.3% (and up nearly 8% so far this month).”
For the region, they see that weak JPY meant record highs reached for the AUD and NZD on a trade-weighted basis, with tightening financial conditions likely on the radar of Antipodean central banks. Further, Yen depreciation paused during the Asia-Pac session, but all eyes are on the next key 100 barrier. They note that Asia-Pac data were mixed, with upbeat business sentiment in New Zealand contrasting with ongoing self-pity held by Australian counterparts. Elsewhere, Chinese inflation data retraced as expected, all eyes on trade tomorrow and GDP next week. They finish by writing, “Nevertheless it was a risk on session with AUD and NZD firmer on the day, although CAD weighed down by a string of weak data releases, while most Asia-Pac equity markets are around ½% higher so far today, even the Nikkei up another +0.3% (and up nearly 8% so far this month).”