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Asia open: Powell’s testimony offered little direction to markets – TDS

Analysts at TD Securities offered a snapshot of global markets overnight.

Key Quotes:

“Chairman Powell’s testimony offered little direction to markets, leaving Treasuries to bear-flatten on a modest selloff in the front-end while Canadian rates rallied by ~1bp across the curve to outperform. US equities closed the day higher (SPX: 0.5%, Dow: 0.3%) while the TSX saw more modest gains.”

“The USD posted a broad rally against G10 FX after trading on its back foot throughout most the European session. Cable (-0.9%) led the selloff amid political headwinds while NZD (+0.1%) led the G10 complex following a pickup in core inflation measures.”

“UK CPI and Eurozone HICP will provide the data highlight for Wednesday.”

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