Collinson FX Market Commentary - Jan 10

Collinson FX Market Commentary - Jan 10 - Australia moves ahead

by Collinson FX on 10 Jan 2017

Start of Coastal Classic - October 21, 2016 - VXOne Richard Gladwell www.photosport.co.nz

Collinson FX Market Commentary - Jan 10 - Australia moves ahead

Jan 10 - European markets were positive after some positive economic data contradicting recent numbers. German Industrial Production jumped, while both imports and exports expanded at a heartening pace, confirming the status of powerhouse in a challenged community.

The EUR improved to 1.0550, while the Yen cruised back towards 116.20, as the Dollars drifted. The GBP did lose ground, falling to 1.2150, after PM May hinted at a hard Brexit impacting trade with Europe. Australian economic data was positive, with construction rebounding, while Building Approvals jumped.

The AUD reflected this, pushing back to 0.7350, while the NZD regained 0.7000. Economic data will drive markets in the lead up to the inauguration of Trump!

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