Collinson FX Market Commentary - July 27 - Steady trade data ups KIWI

by Collinson FX on 26 Jul 2016

- RNZYS Winter Series, July 16, 2016 Richard Gladwell www.photosport.co.nz

Collinson FX Market Commentary - July 27 - Steady trade data ups KIWI

The FOMC meeting began overnight, with the announcement to come tonight, after a two day meeting. There has been a lot of talk of a rate rise, as US economic fundaments improve, only to fall flat or be upset by yet another disruptive Geo-Political event.

The Case Shiller Home Price Index was flat, while New Home Sales jumped back in to the positives. US data has been progressive but not comprehensive. Commodity demand remains weak, reflecting global demand, which threatens continued confidence and any hope of a rate rise.

The JPY slipped back to 104.70, ahead of the Bank of Japan meeting, while the EUR approached 1.1000. NZ Trade data was steady and allowed for the NZD to push back above 0.7000, while the AUD flirts with 0.7500. All eyes remain on the Fed!

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