Collinson FX Market Commentary- 30 April - A week of rallies

Pic of the Day Semaine Olympique Francaise de Voile 2012
© Victor Kovalenko

Collinson FX market Commentary: 30 April 2012

Friday completed a week of rallies with the absence of further bad news from Europe and some strong US corporate earning.

Housing data was mixed but the US learnt the economy was growing at a slower rate than expected.

The US GDP came in at 2.2% down from 3%. The poor economic data failed to spook equities markets which completed a very strong rally at the close.

The EUR reflected the strong appetite for risk rising to 1.3250 and the GBP up to 1.6250.

Commodities also continued recent strength with the AUD hitting 1.0475 and the KIWI 0.8225.

The coming week holds a slew of economic data led by employment data in the US. Chinese PMI and European numbers will also hold interest. The RBA has their rate decision meeting Tuesday with the ECB later in the week.Remember the old adage...'Sell in May...Go away!'

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