Analysts at TD Securities explained that market sentiment remains fragile.
Key Quotes:
“Market sentiment remains fragile in the aftermath of last week’s washout, with US equities (SPX: -0.6%) selling off into the close after a risk-off session in Asia. Treasuries were little changed while Canadian fixed income underperformed on an upbeat Business Outlook Survey (BOS), which drove a 3bp selloff in the front-end.
The USD started the week on the back foot with a broad decline against G10 FX. GBP opened lower on reports that Brexit talks have stalled, but rallied to end the session unchanged. NZD (+0.6%) was the prime benefactor of dollar weakness while USD/CAD (-0.3%) dipped below 1.30 on the aforementioned BOS.
CPI data for New Zealand and China is on deck for today.”
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