Collinson FX Market Commentary- January 15, 2013 - Kiwi dips under .84
by Collinson FX on 15 Jan 2013
Collinson FX market Commentary: January 15, 2013
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18ft Skiffs, Auckland January 13, 2013 © Richard Gladwell http://www.richardgladwell.com
Markets were steady to begin the week with little news out on the economic front. US markets were digesting various Fed leaders speeches over the country with Bernanke reiterating his stance on prolonged low rates as long as Unemployment remains stubbornly high and inflation is controlled.
Concerns are surfacing about inflationary pressures and this is any central bankers nightmare and a box Pandora does not want to open! There are open questions over Apple which has now dropped below US$500. The longer their gadgets remain on the market the more profitable they are and we are seeing a shortening lifespan on refreshed products. Post-Jobs may not see the innovation and thus the fallout will grow as innovative companies overtake them.
Commodities remain well bid and the EUR held 1.3350 and the GBP 1.6075 despite Industrial Production falling 0.3%. The AUD traded 1.0550 with Home Loans falling and Job Advertisements dropping 3.8%. Storm clouds seem to be gathering over the Australian economy in an all-important election year.
The KIWI is trading just under 0.8400 but will be impacted by further economic developments in Europe and the US. Plenty of data to determine daily directions this week and look to Political leaders for disruptive messaging.
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