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8 Apr 2013
Forex Flash: Asia-Pacific mood subdued - TD Securities
FXstreet.com (Barcelona) - TD Securities analysts note that the mood in Asia-Pac is relatively subdued following the negative leads from offshore and a poor US payrolls on Friday was compounded by renewed uncertainty in Europe following Portugal’s constitutional court’s rejection of the government’s austerity program over the weekend.
They see that local bourses were mixed at best, though the Topix outperformed (+2.4% to a 4½-year high), buoyed by the further depreciation of the Yen (USDJPY 98.5). Further, they add that most currencies were virtually unchanged following general USD weakness on Friday. They finish by writing, “Today brings the kick-off of the Q1 earnings session, with Alcoa reporting after the US markets close. The highlights of the economic calendar include the FOMC minutes (Wed), US retail sales (Fri) and China’s trade data for March (Wed). In addition, Euro zone finance ministers meet.
They see that local bourses were mixed at best, though the Topix outperformed (+2.4% to a 4½-year high), buoyed by the further depreciation of the Yen (USDJPY 98.5). Further, they add that most currencies were virtually unchanged following general USD weakness on Friday. They finish by writing, “Today brings the kick-off of the Q1 earnings session, with Alcoa reporting after the US markets close. The highlights of the economic calendar include the FOMC minutes (Wed), US retail sales (Fri) and China’s trade data for March (Wed). In addition, Euro zone finance ministers meet.