by Collinson FX
Etchells Invitation Series - November 12, 2013
Collinson FX market Commentary: November 12, 2013
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Equity markets hovered around record levels with rising debate over the continued QE Infinity stimulus. The Fed has continued to pump $85 Billion per month into the US economy, which has created the extra-ordinary bubble that will now be tested.
The parameters that were set by Bernanke, including employment and growth, are coming close to being satisfied. Employment remained steady last Friday but Non-Farm Payrolls added over 200,000 jobs, beating expectations. The Holiday season is fast approaching so the appetite of the Consumer will now be under the microscope. It remains hard to see the Fed moving before the new Fed Chairman assumes control in the New Year.
The EUR remains steady, trading 1.3400, with little happening in the single market to drive confidence. Commodities remain bid, as the value of the Dollar dilutes, but remain vulnerable to risk. The AUD traded around 0.9350 and the KIWI 0.8230.
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