Collinson FX Market Commentary - Jan 11

Collinson FX Market Commentary - Jan 11 - US Confidence surges

by Collinson FX on 11 Jan 2017

Start of PIC Coastal Classic - October 21, 2016 - VXOne Richard Gladwell www.photosport.co.nz

Collinson FX Market Commentary - Jan 11 - US Confidence surges

Jan 11 - Equity markets continued to build momentum and trade around record highs, with confidence surging in the lead up to the new Trump regime in the USA, while the Dollar continues to trade at stronger levels.

The NFIB Small Business Optimism reports came out in the US, showing a big surge, reflecting recent economic data. The EUR trades 1.0570, while the Yen trades around 117.00, as expectations of further rate rises support the Dollar. Australian Consumer Confidence also surged, pushing to 120.1 from 113.40, which has influenced the local currency.

The AUD traded up to 0.7350, while the NZD slipped back below 0.7000, impacting the cross rate. Markets remain focused on the incoming US administration while economic data drives daily direction.

Start of Coastal Classic - October 21, 2016 - VXOne © Richard Gladwell www.photosport.co.nz

Collinson FX Market Commentary - Jan 10 - Australia moves ahead

Jan 10 - European markets were positive after some positive economic data contradicting recent numbers. German Industrial Production jumped, while both imports and exports expanded at a heartening pace, confirming the status of powerhouse in a challenged community.

The EUR improved to 1.0550, while the Yen cruised back towards 116.20, as the Dollars drifted. The GBP did lose ground, falling to 1.2150, after PM May hinted at a hard Brexit impacting trade with Europe. Australian economic data was positive, with construction rebounding, while Building Approvals jumped.

The AUD reflected this, pushing back to 0.7350, while the NZD regained 0.7000. Economic data will drive markets in the lead up to the inauguration of Trump!

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