Todd Elmer

Todd Elmer News

  • Yen Advances as Risk Appetite Ebbs on Chinese Data; Pound Drops

    The yen gained versus 10 of its 16 major peers as appetite for riskier assets cooled after China reported the biggest trade deficit in two years and the slowest rise in consumer prices in 13 months.

  • Aussie Is Near Three-Month High as RBA Has Only Words Left

    Stepping up verbal intervention may be the Reserve Bank of Australia’s only option to curb the Aussie as strengthening economic data and a neutral policy stance drive the currency toward a three-month high.

  • Aussie Weakens as Continued Taper, Investment Drop Curb Demand

    The Australian dollar was set for a second week of declines as prospects of continued reduction in U.S. monetary stimulus and weaker-than-expected local business investment data damped demand for the currency.

  • INSIDE AUSTRALIA: Aussie Set for 2-Week Drop on Sustained Taper

    Australia’s dollar is set for a second weekly decline after Federal Reserve Chair Janet Yellen said the central bank is likely to keep trimming bond purchases that have buoyed higher-yielding assets globally. * AUD down 0.2% to 89.46 cents as of 2:15pm in Sydney; currency has lost 0.4% since Feb. 21 and is set for a 2.2% monthly gain; pivot 89.47; resistance 89.90, 90.14, 90.82; support at 89.22, 88.79, 88.12 * “We’re shifting back into an environment in which you’d want to sell into Aussie rallies,” says Todd Elmer, currency strategist at Citigroup Inc. “In the weeks ahead, the medium- term downtrend in the Aussie is likely to reassert itself.” * Jan. private sector credit m/m +0.4% vs est. +0.5% * Australia’s 10y yield touched 4.03%, lowest since Feb. 5; 3y yield fell to as low as 2.83%, a level unseen since Feb. 4 * AUD/USD 1-mo. implied volatility up 5.5 bps to 9.42% * Australia’s 1-yr qtrl

  • G-20 Meeting Guide From Emerging-Market Gripes to Currencies

    Here’s what to look out for when finance ministers and central bankers from the Group of 20 nations meet in Sydney this weekend. Federal Reserve Chair Janet Yellen, European Central Bank President Mario Draghi and U.S. Treasury Secretary Jacob J. Lew are among those set to attend.

  • Kiwi a Buy as Intervention Talk Was Misread, Citi and Nomura Say

    Investors should buy the New Zealand dollar after foreign-exchange markets misinterpreted a speech by central-bank Governor Graeme Wheeler as signaling intervention to weaken the currency, according to Citigroup Inc. and Nomura Holdings Inc.

  • Rebuilding Reserves Means U-Turn on Treasuries: Southeast Asia

    Southeast Asian central banks are rebuilding their foreign-currency reserves, raising the prospect they will boost holdings of U.S. Treasuries for the first time since February.

  • Citibank’s Elmer Says Japan Faces ‘Headwinds’ in Weakening Yen

    Todd Elmer, head of Group-of-10 currency strategy for Asia ex-Japan at Citigroup Inc. in Singapore, comments on the yen after Japan sold the currency today to protect exporters.

  • N.Z. Dollar May Rise Versus Aussie on RBNZ View, Citi, UBS Say

    The New Zealand dollar may gain against its Australian counterpart on speculation Reserve Bank of New Zealand Governor Graeme Wheeler may signal a bias toward higher interest rates in a statement tomorrow, according to Citigroup Inc. and UBS AG.

  • Aussie Falls, Adds to Biggest Drop in a Month Before Jobs Report

    Australia’s dollar fell, adding to its biggest drop in a month versus the greenback, before a jobs report tomorrow forecast to show unemployment remained at its highest level in four years.

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