Collinson FX Market Commentary- March 26, 2013 - AUD and Kiwi survive
by Collinson FX on 26 Mar 2013
Collinson FX market Commentary: March 26, 2013
http://itunes.apple.com/app/collinsonfx/id533360650?mt=8!Click_here to find out how to get CollinsonFX's free iPhone app
18fter Maersk training with her big rig © Richard Gladwell http://www.richardgladwell.com
Precedents are being set in Europe as the Troika ignore their own rules once again. A new deal has been banded togeather to bail out the recalcitrant Cyprus which breaks foundation rules regarding deposits and bonds. Why do we care?
This undermines faith in the institutions designated to give just that! The adhoc and previously illegal actions of the ECB, have undermined faith in the concept. Currency unity is a completely stupid idea without fiscal union and who would trust the EU to run policy?
The EUR took a hammering after initial confidence slipped. The single currency dropped back to 1.2850 as the GBP treads water at 1.5150. The sitiuation in Europe has highlighted the vulnerability of the single market and the associated currency.
Higher yielding commodity currencies have survived the hit to market confidence with the AUD trading 1.0450 and the KIWI 0.8350. Analysis will reveal the parlous state of Europe and the impact on markets who also need a long hard look in the mirror!
For more on Collinson FX and market information see:
www.collinsonfx.com and www.collinsonwealthmanagement.com
Countries: | NZ: 0800 338 838 | AU: 1800 143 415 | NY: 1888 6257 833 | UK: 0800 0285 834 |
Disclaimer: The details expressed in this website and accompanying documents or transmissions are for information purposes only and are not intended as a solicitation for funds or a recommendation to trade. Collinson Forex Ltd accepts no liability whatsoever for any loss or damages suffered through any act or omission taken as a result of reading or interpreting any of the information contained or related to this site.