Forex Flash: Quiet overnight session as Chinese sentiment climbs – TD Securities
FXstreet.com (Barcelona) - The strategy team at TS Securities note that the overnight session came and went without any major developments other than a surge in the Shanghai Index.
They note that Australian GDP rose 0.5% QoQ but the main focus fell on Chinese equities with the Shanghai Index surging 3% and USDJPY bouncing back to 82.3. They note that talk of restrictions being lifted on Chinese insurance companies owning banks and financials were as such, one of the biggest gainers. They believe that talk of a bullish broker China A share 2013 outlook also may have helped too.
They note that with Shanghai punching back above 2000, regional stocks also drifted higher, most notably the Hang Seng and Nikkei. Elsewhere AUDUSD stalled at 1.0485 but they suspect that the risk on sentiment may build up steam as the European session gets under way in earnest.
They note that Australian GDP rose 0.5% QoQ but the main focus fell on Chinese equities with the Shanghai Index surging 3% and USDJPY bouncing back to 82.3. They note that talk of restrictions being lifted on Chinese insurance companies owning banks and financials were as such, one of the biggest gainers. They believe that talk of a bullish broker China A share 2013 outlook also may have helped too.
They note that with Shanghai punching back above 2000, regional stocks also drifted higher, most notably the Hang Seng and Nikkei. Elsewhere AUDUSD stalled at 1.0485 but they suspect that the risk on sentiment may build up steam as the European session gets under way in earnest.
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