25 October 2013

TREASURY RESEARCHNews Bulletin

Interest Rates & Foreign Exchange News

The Dollar remained week in the overnight session as expectations

the Fed will continue its bond purchases well into next year
provided impetus for G10 currencies to appreciate. The EUR/USD
tested the high of 1.3825.
US Treasury yields edged up from 3 month lows as buying tied to
the view the Fed will not shrink its bond purchase program faded.
The 10y yield was at 2.514% up by 3 bps.
Gold prices were firmer, it was up by 1% breaking above USD
1,350 per/oz on the back of expectations that the Fed will delay its
Taper off.
Asian currencies remain firm to steady and are likely to continue in
a similar fashion on Friday as markets brace for further selling of
the Dollar given expectations that Taper off by Fed is delayed.
USD/MYR focus is on the budget release later in the day, with
consensus for a 4% deficit. Key points to note are growth
projections for 2013 as well a total deficit target for 2014.

Today's Technical Outlook

G10

Regional Swap Points / Implied Yields

EUR

JPY

GBP

AUD

NZD

CAD

CHF

1.3857

97.80

1.6273

0.9721

0.8500

1.0481

0.8951

1.3829

97.54

1.6237

0.9672

0.8427

1.0451

0.8937

1.3769

97.10

1.6152

0.9573

0.8301

1.0379

0.8900

1.3737

96.92

1.6103

0.9523

0.8248

1.0337

0.8877

24hr Outlook
Resistance
Support
AXJ

Support

C NY

Spot

6.0816

O/N

1.63

INR

KRW
0.08

7.25

MYR

-0.05

SGD

IDR

THB

1W

36.50

12.50

0.51

19.00

-0.15

1M

114.00

49.00

2.15

70.00

-0.40

3M

235.00 137.25 6.40 191.50

-1.15

180.00 17.55

61.47 1061 3.1608 1.2375 11150 31.15

1.88

0.21

13.25

1.45

59.50

6.48

C NY

INR

KRW

MYR

SGD

IDR

THB

6M

355.00 258.75 11.55 367.50

-4.10

385.00 32.75

9M

510.00 366.75 13.97 532.50

-7.30

577.50 48.63

6.0945

61.83

1066

3.1797

1.2416

11545

31.27

12M

6.0880

61.65

1064

3.1702

1.2395

11347

31.21

Implied Ylds

C NY

INR

KRW

MYR

SGD

IDR

THB

6.0762

61.33

1056

3.1498

1.2357

10890

31.09

3M Onshore

1.85

9.08

2.64

2.65

0.19

6.56

2.48

6.0709

61.18

1052

3.1389

1.2340

10631

31.03

3M Offshore

3.26

9.36

2.51

2.05

0.20

-2.49

1.83

24hr Outlook
Resistance

Tenor

Source - Reuters, Bloomberg

Contributors CIMB Interest Rates & Foreign Exchange Strategy
Tel: 03- 2084 9857/9775

660.00 471.25 18.70 700.00 -10.50 785.00 64.38

Markets

Last

% Chg

1w % Chg
0.89

Equity
DJIA

15509.21

0.62

S&P 500

1752.07

0.33

1.09

MSCI EM

1030.82

-0.26

-0.30

13.20

-1.64

-2.08

USD LIBOR 3M

0.2381

-0.10

-1.63

Euribor 3M

0.2250

1.35

0.45

JPY T IBOR 3M

0.2209

0.00

0.00

Gold Spot

1346.45

-0.02

2.29

WT I Crude

97.22

0.11

-3.85

VIX
Money Market

Commodities

Source: Bloomberg

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