The TD Securities Team shares the performance of the markets during the mid-European session, noting that DM FX trades mixed as markets eye the Eurogroup meeting.
Key Quotes
“With no major data releases in the US or the Eurozone, today the focus of the markets is on political developments.”
“At the Eurogroup meeting of Finance Ministers later today will there be any signs of a compromise deal for Greece being in the air? Will a new peace agreement be reached in the talks in Minsk today that will result in a lasting cease-fire in East Ukraine?”
“In DM FX the picture is mixed. Against USD, JPY is down 0.35%(today’s a public holiday), GBP up 0.25% and EUR slightly weaker. AUD is down 0.4%, but NZD is unchanged. USDCAD is trading north of 1.2630 as it continues to trend higher after yesterday’s dovish BoC comments yesterday.”
“In EM FX USDRUB is up 1.1% as oil weakens. Against USD, TRY is unchanged and ZAR is down 1.2%. The weak Hungary CPI number caused EURHUF to rally initially, although it quickly gave up all its gains, perhaps as a result of comments from the Economy Ministry that positive core inflation shows that deflation is not a threat in Hungary.”
“Fixed Income is generally stronger, but 10Y Greece is +40bps. Most European equity markets are slightly weaker on the day.”
Key Quotes
“With no major data releases in the US or the Eurozone, today the focus of the markets is on political developments.”
“At the Eurogroup meeting of Finance Ministers later today will there be any signs of a compromise deal for Greece being in the air? Will a new peace agreement be reached in the talks in Minsk today that will result in a lasting cease-fire in East Ukraine?”
“In DM FX the picture is mixed. Against USD, JPY is down 0.35%(today’s a public holiday), GBP up 0.25% and EUR slightly weaker. AUD is down 0.4%, but NZD is unchanged. USDCAD is trading north of 1.2630 as it continues to trend higher after yesterday’s dovish BoC comments yesterday.”
“In EM FX USDRUB is up 1.1% as oil weakens. Against USD, TRY is unchanged and ZAR is down 1.2%. The weak Hungary CPI number caused EURHUF to rally initially, although it quickly gave up all its gains, perhaps as a result of comments from the Economy Ministry that positive core inflation shows that deflation is not a threat in Hungary.”
“Fixed Income is generally stronger, but 10Y Greece is +40bps. Most European equity markets are slightly weaker on the day.”
