Collinson FX Market Commentary- Apr 7 - ANZAC Parity?
by Collinson FX on 8 Apr 2015
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Collinson FX market Commentary: March 28, 2015 - Quiet finish to week
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Apr 7: Markets rallied overnight, to trade higher, in extremely thin Easter markets. Non-Farm Payrolls completely missed expectations, with 126,000 jobs added, while over 245,000 were expected. This is exactly the excuse the Fed needs to defer interest rate rises until next year! US Factory Orders gained 0.2%, reversing the previous month losses, pushing optimism up slightly.
The Dollar reacted accordingly and crashed with the EUR rising to 1.0975 and the GBP to 1.4910. The recent bath that the commodity currencies have taken have reversed. Commodity prices rallied and elicited some gains in the currency after recent turmoil.
The KIWI moved back towards 0.7600, while the AUD moved to around 0.7625, parity looking a distinct possibility. The Bank of Japan issue a Monetary Policy Statement and The Bank of England will announce rate decisions. The RBA look like they may tend to a cut this week in solidarity with Global Central Banks.
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