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AUD & NZD See Positive Spill Over From HK Equity Surge

FOREX

The surge in Hong Kong equities (+3.3% for the HSI) is spilling over into AUD and NZD demand. Both currencies are around 0.20-0.25% higher for the session. AUD/USD last in the 0.6715/20 region, while NZD/USD is close to 0.6220.

  • The broader BBDXY is back to slightly down for the session. USD/JPY is off highs as well, last back near 142.10, earlier highs were at 142.47. A tick up in US 10yr TSY futures has likely helped yen sentiment.
  • Still, AUD and NZD are both outperforming the yen at this stage.
  • A good part of the equity rally is reflective of easing house purchase requirements for Beijing and Shanghai announced late yesterday (mixed Nov activity didn't generate much of a market reaction). The Hang Seng Mainland Properties index is up 4.5%.
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