Collinson FX Market Commentary - Nov 26 - A slow Thanksgiving Weekend
by Collinson FX on 26 Nov 2015
Icebreaker - 2015 PIC Coastal Classic Richard Gladwell
www.photosport.co.nz
Collinson FX Market Commentary - Nov 26 - A slow Thanksgiving Click here to find out how to get Collinson FX's free iPhone app
Nov 26 - Thanksgiving weekend is traditionally a very slow week as families travel across America to their annual reunions.
Economic data was conducive to this ritual with small rises in Personal Income and Expenditure with positive news from the Housing sector. New House Sales jumped 10.7%, while House Prices pushed north, enhancing the sector. Composite PMI, from the U.S., improved along with Durable Goods Orders.
Equities eked out gains and commodities pushed up, led by Oil, which assisted the associated currencies. The AUD moved up towards 0.7250, while the NZD broke back to 0.6550 ahead of important trade data out this morning.
Collinson FX Market Commentary - Nov 25 - Turkey turmoil bumps dollars
Nov 25 - Markets were dominated by Geo Political activity, with the shooting down of a Russian plane by the Turks on the Syrian border, ramping up tensions in the region. The Turks claim the Russian jet crossed the border, while the Russians claim this was false, warning of serious consequences. The Turks are anti Assad, pro US, with many disparate allies and enemies.
The situation is descending into turmoil and this week should see events effect markets. European markets fell with the news, although U.S. Markets remain quiet due to the shortened Thanksgiving week holidays. U.S. GDP came in at 2.1%, in line with expectations, while bond yields slipped lower. Existing Home Sales contracted 3.4% and Manufacturing PMI dipped lower.
The Fed will now focus on Employment and Non Farm payrolls in the all-important decision to raise rates.
The NZD consolidated above .6500, while the AUD jumped towards 0.7230, with Oil leading a rebound in commodity prices. The EUR moved to 1.0650, while the GBP slipped to 1.5070 with uncertainty spreading across financial markets.
Collinson FX Market Commentary - Nov 24 - Europe treads water
Nov 24 - A slow start to a short Thanksgiving week, with Oil pushing higher, while commodities drifted lower. The Chicago Fed National Activity Index contracted lower with anti terror raids hitting Belgium and France. The EUR threaded water, trading 1.0630, while the GBP held 1.5150.
Commodity prices influenced the associated currencies, with the AUD under 0.7200, while the NZD is looking to consolidate around 0.6500. Central Bank speculation and commentary remain the major driver of markets while Geo Political events remain a threat.
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.
If you want to link to this article then please use this URL: www.sail-world.com/140392