sail-world.com
 
 
News Home Cruising Photo Gallery Video Gallery
Sail-World.com : Collinson FX Market Commentary: November 16, 2012 - Billions shed
Collinson FX Market Commentary: November 16, 2012 - Billions shed

'Image of teh Day First sailing day of the AC72 of Artemis Racing, 13 November 2012, Alameda, USA'    Sander van der Borch / Artemis Racing ©    Click Here to view large photo

Collinson FX market Commentary: November 16, 2012

Click here to find out how to get CollinsonFX's free iPhone app

Equity markets continued to shed billions with economic data releases confirming the dire state of the worlds economy. European data confirmed the EC had slid back into recession tipped by the Southern states with France and Germany only just remaining positive.

The debt crises has overwhelmed EU members and the use of Monetary expansionary policies has postponed the inevitable. The spectre of inflation has now begun to appear and this is Pandora's box. The QE has been teasing the CPI and now they must act. The removal of monetary stimulus leaves only fiscal solutions and Politicians have little appetite with the growing civilian upheaval. Rioting against the austerity measures reflect the citizens reaction to even more severe measures.

In the US, data has deteriorated with the Philly Fed Manufacturing Index falling 10.7 as did the Empire State survey. Weekly Jobless claims are on the rise and will be reflected in a rise in Unemployment which had previously dropped below 8% the month before the US election conveniently assisting in Obama's re-election.

The looming 'Fiscal Cliff' undermines confidence and will build as the year end approaches. It really is not difficult.....balance the budget! No more room for procrastination!

The contraction in global demand is starting to impact the commodity currencies with the AUD slipping back to below 1.0300 and the KIWI under 0.8100. Economic data is also testing with NZ Job ads falling and Car Sales falling in Australia.

The Fiscal Cliff and the European debt crises spiral out of control infecting equities and commodities. Action is required and leaders are not too good at that.

Image of the Day Veloce had its first outing in the Club Marine Series this season. - Club Marine Series 2012/2013, Melbourne, Australia -  Teri Dodds ©  

Collinson FX market Commentary: November 15, 2012

The world is in turmoil with the middle east on fire, Europe mired in anti-austerity riots and the US struggling with economic revolt. European riots spread across Europe including Greece, Spain, Italy and Portugal emanating directly from the austerity measures imposed to avoid economic collapse.

The crisis is spiralling out of control with protests moving to France and Belgium. The continued budget deficits add further to the crippling debt and the printing of more EURO's will not solve the fundamantal problem. Live within your means is a novel concept. The other major problem is the disfunctional single currency which is under real threat.

The GBP fell to 1.5850 after the Bank of England released minutes citing the rising inflation and the EU impacting growth which may require further QE undermining the currency. In the US Retail Sales fell and as the Fiscal Cliff approaches and it is likely economic indicators will continue to confirm deterioration. The result of the fiscal cliff will throw the US back in to recession dragging the global economy with it. Obama will raise taxes and cut defence and the economy will suffer.

Make no mistake, the Americans face an economic crises which this administration is incapable of solving.

The global situation directly impacts growth and demand which directly effects China and thus commodity prices. The AUD fell back to 1.0380 and the KIWI 0.8115.

This is likely to continue and when Central Banks realise the need to match the Fed, ECB and BofE the rate cuts will add further downside pressure.

SAILING - PRE-VENDEE GLOBE 2012 - PENMARCH' (FRA) - 24/09/2012 - PHOTO JEAN-MARIE LIOT / DPPI / VENDEE GLOBE - MACIF / SKIPPER FRANCOIS GABART (FRA)  Jean-Marie Liot - DPPI_- Vendée Globe ©   Click Here to view large photo

Collinson FX market Commentary: November 14, 2012

Markets were steady overnight with European equities rising and Bond Yields slipping reflecting a reprieve for Greece. EU Finance Ministers agreed to extend budgetry requirements for Greek austerity measures out to 2016. The waver allows Greece to continue to add to the already overwhelming debt by running budget deficits until 2016 when they will limit this to 2% of GDP.

They also agreed to defer the next bailout tranche predictably kicking the proverbial can down the road. UK Inflation crept up to 2.7%, despite the weak state of the economy, which must be unsettling for Central Bankers as the sleeping giant could well bring all the chickens home! The GBP remained weak at 1.5875 and the EUR tests 1.2700. The strong Chinese economic data has given new legs to the AUD which trades 1.0425 and the KIWI approaching 0.8200.

The risk sentiment will again be tested as the EU debt crises rolls on and the US Fiscal Cliff negotiations drag on. Obama has never lead on Economic policy and defers to Congress who are divided. To avoid the fiscal cliff and certain recession is a supposed priority but precedence points to brinksmanship until the deadline and then inaction and deferment.

Democrats would not be unhappy seeing tax rises and cuts to the military so Republicans should stand aside and let the lunatics run the asylum as the people advocated last week. Democrats have not passed a budget in more than three years and the plan is to have no plan. This is similar to European Politicians and should result in a disaster for the global economy.

SAILING - PRE VENDEE GLOBE 2012-2013 - 24/09/12 - PENMARC'H (FRA) - 24/09/12 - PHOTO JEAN-MARIE LIOT / DPPI / VENDEE GLOBE - SAVEOL - SKIPPER / SAM DAVIES (GBR)  Jean-Marie Liot - DPPI_- Vendée Globe ©   Click Here to view large photo

Collinson FX market Commentary: November 13, 2012
Veterans Day in the US means a very light trading day on Wall St and thus globally with little direction.

Markets did earlier focus on extremely positive economic data from China, with the Trade surplus expanding at the best rate in four years. The Trade Surplus accelerated at a very strong pace as exports boomed boosting commodity currencies with the AUD moving up to 1.0415 and the KIWI to 0.8175.

The link with other risk-currencies has been broken with the EUR falling back to 1.2715 and the GBP down to 1.5875. The news from China has been positive but ultimate dependence on the European and US markets has tempered the gains. In Europe the EU Finance Ministers gather this week with approval of the next Greek bail-out tranche on the agenda.

The Troika are reticent to approve this despite the Greeks passage of the new budget over the weekend. The problem is the fiscal deterioration with forecasters predicting Greek debt to rise to more than 190% of GDP! One thing for sure is that this will not end well!

The US meanwhile face the 'fiscal cliff' and the 'debt ceiling' which will inevitably lead to higher taxes no matter what the solution. The solution will definitely negatively impact US (and thus global) growth.

Obama has little grasp on the requirements of the economy and survives on personal popularity. The peoples affection will abandon him when the economy plunges back in to recession in the New Year!

You get what you pay for!

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.


by Collinson FX

  

Click on the FB Like link to post this story to your FB wall

http://www.sail-world.com/index.cfm?nid=103838

10:41 AM Fri 16 Nov 2012GMT


Click here for printer friendly version
Click here to send us feedback or comments about this story.

Click for further information on
2011 Collinson & Co

Related News Stories:

15 Nov 2012  Collinson FX Market Commentary: November 15, 2012 - Economic revolt
13 Nov 2012  Collinson FX Market Commentary: November 13, 2012 - Light Veterans Day
11 Nov 2012  Collinson FX Market Commentary: November 9, 2012 - Equities crash
07 Nov 2012  Collinson FX Market Commentary: November 7, 2012 - Equities rally
06 Nov 2012  Collinson FX Market Commentary: November 6, 2012 - Markets go quiet
03 Nov 2012  Collinson FX Market Commentary: November 3, 2012 - Confidence falls
02 Nov 2012  Collinson FX Market Commentary: November 2, 2012 - US strong
01 Nov 2012  Collinson FX Market Commentary: November 1, 2012 - US re-opens thin
31 Oct 2012  Collinson FX Market Commentary: October 31, 2012 - US remains closed
30 Oct 2012  Collinson FX Market Commentary: October 30, 2012 - Sandy shuts US
MORE STORIES ...




News - USA and the World

American Windsurfing Tour - The Goya Pro Cabo Verde is shaping up to be the latest AWT edition of the ‘Clash of the Titans.’ The mega stars of windsurfing are currently tuning up their gear, and making final adjustments before the long journey to the remote island of Sal, Cabo Verde. ... [more]  

The Royal Ocean Racing Club is pleased to announce its partnership with Gill North America as official crew merchandise provider for the seventh edition of the RORC Caribbean 600, starting in Antigua on Monday 23 February. ... [more]  

The second Annual Antigua Dragon Yacht Club Challenge will be hosted by Harmony Hall Yacht Club, with the support of the Antigua Yacht Club Marina and the Inn at English Harbour, with nine races scheduled to take place over five days in fantastic Caribbean conditions on identical Petticrow Dragons. ... [more]  

Roger Hickman skipper of Rolex Sydney Hobart Yacht Race IRC winner Wild Rose sat down with Geoff Waller of www.boatson.tv and described just what went into his boat winning the 2014 Rolex Sydney Hobart Yacht Race. His was a 'full-on' race (with dramatic 'on-board' video) which included a knock-down, broken steering, a wild 'Chinese gybe', storms and only a small amount of blood spilt. ... [more]  

The world’s elite sailors are preparing to meet in Singapore for the opening Act of the 2015 Extreme Sailing Series™, which is set to bring the world famous Marina Bay alive with its pioneering Stadium Racing concept. With the transfer window now closed, some new players will enter the arena as the Series launches into its ninth season, with continued support of Series Main Partner Land Rover. ... [more]  

2015 ISAF Sailing World Cup Miami - Day 4 photos provided by Ocean Images. ... [more]  

2014 - 2015 Barcelona World Race - No scape south because of South Indian Ocean Antarctic Exclusion Zone means a painful wait for Anna Corbella and Gérard Marin on GAES Centros Auditivos. ... [more]  

The expansion of sailing into so-called developing countries, continues at the ISAF Sailing World Cup, Miami, with newly embraced Cuba joining the 64 nation line-up encompassing 600 boats. The 2015 fleet on Biscayne Bay is a record turnout, for this second event on the 2015 Sailing World Cup Circuit ... [more]  

Day 4 of ISAF Sailing World Cup Miami 2015, Presented by Sunbrella, saw the US Sailing Team Sperry make steady gains in the Laser and Laser Radial classes as gold fleet racing approaches its conclusion. In the Sonar, Rick Doerr (Clifton, N.J), Brad Kendell (Tampa, Fla.) and Hugh Freund (South Freeport, Maine) will go for gold tomorrow in the final day of Paralympic racing. ... [more]  

At exactly 00:01 on the 29th January 2015, TeamVestas?' VO65 left VTE - Voltri Terminal Europa en route to Persico Marine in the foothills of the Italian Alps. The boat is now safely secured in a purpose-built facility near Bergamo, awaiting full assessment and the beginning of the repair process. ... [more]  

ISAF Sailing World Cup Miami Day 3 - There's a world of difference between skiing a long, smooth run and skiing on moguls. Today, forget the waves, it was the breeze on Biscayne Bay that was 'moguls.' Shift upon shift upon shift upon shift. ... [more]  

Ioannis Mitakis (GRE), the 2012 Finn European Champion, ruled the roost in Miami today with two emphatic race wins and moves up to third overall. Giles Scott (GBR) sailed his worst day so far, but still leads with a five point gap on Jake Lilley, and 12 points over Mitakis as the event reaches its half way stage. ... [more]  

The International DN Ice Yacht World and North American Championships are being held in Kingston, Ontario (right in front of our office). For the Kingston Yacht Club, we skated out to the middle of the lake, and put together a little highlight piece for them to remember the event by. ... [more]  

Doyle Sails had more success last weekend in the Auckland Optimist Championships, taking first and second overall in the 110 strong Open fleet. Six countries were represented in the event, and young sailors came the length of New Zealand to compete in the regatta that is a ranking event for World and International team selection. ... [more]  

EFG's Star Winter Series rules in Biscayne Bay by Connie Bischoff, Miami, FL
The third Star Winter Series presented by EFG (SWS) and hosted by Miami’s Biscayne Bay was a shining success. Not only have all five regattas had stronger participation than last year but the final one, the Mid Winters, grew 35% with 45% of the sailors international (CAN, SWE, BRA, UKR, ARG, ITA and GER). ... [more]  

2015 ISAF Sailing World Cup Miami - Day 3 photos provided by Ocean Images. ... [more]  

Day 3 of ISAF Sailing World Cup Miami, Presented by Sunbrella marked the midpoint of North America’s biggest Olympic and Paralympic classes regatta. With bright sunshine and fresh breeze in abundance, the world’s top athletes in 13 classes were treated to the conditions that exemplify why Miami is a preferred international sailing destination. ... [more]  

It was windshift upon windshift upon shift upon windshift on Day 3 of the ISAF World Sailing Cup Miami sailed on Biscayne Bay Presented by Sunbrella, the premier regatta has attracted 599 boats and 768 sailors who were adjusting all day to one thing or another. If it wasn't the wind direction that was changing, it was the wind speed. ... [more]  

Following the success of the Mount Gay Round Barbados Race Series that concluded last week, the dates of next year’s event have been confirmed for 16-24 January 2016. With overseas competitors from 11 nations represented a large part of the 47-strong fleet overall at the 2015 event ... [more]  

Ben Ainslie Racing, the British Challenger for the 35th America's Cup, have shipped two foiling Nacra 20 catamarans to Bermuda and have become the first team to commence sailing operations at the Venue for the next Cup. The team conducted an initial training camp in Bermuda, last week. ... [more]  

North U kicked off its 2015 season of youth match racing clinics around the U.S. with a successful clinic hosted by the Texas Corinthian Yacht Club in Kemah, Texas on Galveston Bay near Houston. Forty high school and college sailors spent two-and-a-half days learning about match racing and training in Sonars on flat water and 6-12 knots of breeze. ... [more]  

A fantastic week of sunshine, warm weather, big breeze and competitive sailing is what sailors were treated to last week in Key West. Several Canadians left the bitter cold of the north to partake in the fun filled week and a few even brought home trophies. Here's a peek at the fun in the sun! ... [more]  

At ISAF Sailing World Cup Miami, presented by Sunbrella, if the Chamber of Commerce had stayed up all night working at it, they could not have served up a better day for racing. ... [more]  

On day 2 of ISAF Sailing World Cup Miami, Presented by Sunbrella, the rainstorms of yesterday vanished but the excellent wind conditions remained in place on Biscayne Bay. A more conventional day of racing saw US Sailing Team Sperry athletes finish the day in the top 10 in 5 Olympic classes and 2 Paralympic classes. ... [more]  

Bringing Dragon Sailors from around the world to Antigua. Harmony Hall Yacht Club, with the support of the Antigua Yacht Club Marina and the Inn at English Harbour, will host the second Annual Antigua Dragon Yacht Club Challenge with nine races scheduled to take place over five days in fantastic Caribbean conditions on identical Petticrow Dragons. ... [more]  

There are so many ways that the Dongfeng Race Team could have lost the chance to win the light-air marathon from Abu Dhabi to Sanya in China. Leading from the first 24 hours to the finish, 23 and a half days later, 5,403 nautical miles sailed and eight different gulfs, oceans and seas, is not necessarily the most advisable way to try and take the spoils. ... [more]  

Sydney photographer, Michael Chittenden was on Sydney harbour last Sunday and captured these images from Race 4 of the NSW 18ft Skiff Championships ... [more]  

New Zealand short-handed sailor, Conrad Colman is on his second two handed round the world race, this time aboard the Spirit of Hungary with Nandor Fa sailing in the Barcelona Round the World Race: I had noticed a couple of chafing zones on the mainsail so I prepared some patches and the Dr. Sails flexible epoxy glue so we could drop the main quickly ... [more]  

2015 ISAF Sailing World Cup Miami- Photos provided by Ocean Images. ... [more]  

Photographer Ingrid Abery was on the water at 2015 ISAF Sailing World Cup Miami and provided this gallery of images. ... [more]  

2015 ISAF Sailing World Cup Miami - It may have been a day late for Australia Day, but on the second day at the Sailing World Cup Miami, the Australian Finn sailors were on a charge with some sparkling performances. Giles Scott (GBR) still leads after winning the opening race of the day, while Jake Lilley (AUS) won the second and moved up to second overall. Ed Wright (GBR) is in third. ... [more]  

2015 Pineapple Cup – Montego Bay Race is set to begin Friday, February 6. The 32nd edition of the venerable Pineapple Cup – Montego Bay Race will start in Port Everglades, Florida, and send its 12-boat fleet on a challenging 811 nautical mile course to Montego Bay, Jamaica. George Sakellaris’s (Framingham, Mass.) 72-foot Shockwave will be the largest boat competing, so it should be interesting to ... [more]  

VX One momentum is growing with ever larger fleets showing the pure fun and easy performance of this true thoroughbred one design. ... [more]  

America's Cup: Oracle crew mate lodges ISAF complaint against Tienpont
Volvo Ocean Race: A warm and colorful welcome for Team SCA into Sanya
Touch2Play at Key West Race Week
Barcelona World Race leaders split paths
Tokyo 2020 Paralympic Games - Final line-up to be announced
ISAF Sailing World Cup Miami Day 1 - Brits off to a flying start
ISAF Sailing World Cup Miami - Tough Day 1 + Video
ISAF Sailing World Cup Miami - Tough Day 1 + Video
RC44 World Championship Leg 1 - RC44 Valletta Cup preview
ISAF Sailing World Cup Miami - US Sailing Team Day 1
ISAF Sailing World Cup Miami -Finn class -testing conditions on Day 1
ISAF Olympic classes regatta Miami 2015 images by Ingrid Abery
Volvo Ocean Race: Team Alvimedica wins first podium place in Sanya
Volvo Ocean Race: Dongfeng scores historic victory for China
Volvo Ocean Race: Dongfeng release first DroneCam video from Leg 3
Volvo Ocean Race: Chinese team set historic first with home port win
Volvo Ocean Race: Team Vestas Wind arrives on time in Genoa + Video
America's Cup - Virgin considers backing Ben Ainslie, BAR
Bell's Beer Bayview Mackinac Race - Changes
Alpari World Match Racing Tour - Monsoon Cup preview
Barcelona World Race - A game of chase   
Quantum Key West Race Week: Four GC32's make spectacular USA debut   
Volvo Ocean Race – Frostad says Caudrelier proving them wrong *Feature   
Volvo Ocean Race - Last day drag race to Sanya   
Volvo Ocean Race Leg 3 - Tense onboard Abu Dhabi Ocean Racing   
Volvo Ocean Race Leg 3 - Dongfeng Race Team pushing hard!   
Volvo Ocean Race: Leg 3 Finish - Video - Delayed feed   
2015 ISAF Sailing World Cup Miami - Countdown begins   
Volvo Ocean Race: Donfeng set to create a piece of sailing history   
Barcelona World Race - First of the iconic Great Capes has been passed   
Classic 18fters racing on Sydney Harbour   
Volvo Ocean Race - Can Dongfeng still hang on for a Sanya win??   
Stephanie Roble, 2014 Rolex Yachtswoman of the Year   
Barcelona World Race - Taking advantage   
Oakcliff Awarded Joe Prosser Award at US Sailing NSPS 2015   
20 Nations head for 2015 St.Maarten Heineken Regatta   
Volvo Ocean Race - Less than 500 miles to go   
2015 Quantum Key West Race Week - Fantastic finish   
Barcelona World Race: Weather beacons launched midrace   
2015 Quantum Key West Race Week - Day 5   


For this week's complete news stories select    Last 7 Days
   Search All News
For last month's complete news stories select    Last 30 Days
   Archive News





Sail-World.com  


















Switch Default Region to:

Social Media

Asia

Australia

Canada

Europe

New Zealand

United Kingdom


http://www.sail-world.com/event_images/image/Twitter_logo_small.png http://www.sail-world.com/event_images/image/FaceBook-icon.png  http://www.sail-world.com/event_images/image/RSS-Icon.png

United States

Cruising Northern

Cruising Southern

MarineBusiness World

PowerBoat World

FishingBoating World

 

Contact

Commercial

News

Search

Contact Us

Advertisers Information

Submit news/events

Search Stories/Text

Feedback

Advertisers Directory

Newsletter Archive

Photo Gallery

 

Banner Advertising Details

Newsletter Subscribe

Video Gallery

Policies

 

 

 

Privacy Policy

 

 


Cookie Policy

 

 



This site and its contents are © Copyright TetraMedia and/or the original author, photographer etc. All Rights Reserved.  Photographs are copyright by law.  If you wish to use or buy a photograph contact the photographer directly.
XLXL NEW US
LocalAds   DE  ES  FR  IT