Collinson FX Market Commentary - June 15 - ANZAC dollars jump

by Collinson FX on 15 Jun 2017 Collinson FX Market Commentary - June 15 - ANZAC dollars jump

The FOMC was overshadowed by the shooting in the US, an attack on Republican congressman, which shocked Washington.

The Fed raised rates, as expected, further expanding the plans to wind-down the balance sheet. The economic assessment was up beat but observed the inflation rate was under target levels.

The Dollar did not react to the rise, with the AUD jumping to 0.7570, while the NZD pushed up to 0.7240. German CPI was flat, while EU Industrial Production contracted , damaging any gains against the Dollar.

The EUR barely held 1.1200, while the GBP consolidated the rebound, trading 1.2740. US Retail Sales contracted, as did inflation, which may have contributed the lacklustre performance of the Dollar despite interest rate rises.

Local markets await the release of important GDP in NZ which will drive the KIWI in local trade.

Collinson FX Market Commentary - June 14 - Market absorbs election

US equity markets rebounded strongly, as the FOMC began its two day meeting, expected to result in a rate rise. The question will be the associated plan to reduce the size of the over-inflated balance sheet.

There will also be a commentary on the American economy and the strategic plan to combat rising inflation and improving economic conditions. The important German ZEW Economic Sentiment report came in stronger than expected, as did the associated EU ZEW, reflecting recent improved economic conditions.

The EUR was steady around 1.1200, while the GBP rebounded to 1.2750, with stronger inflation and housing data. Political conditions remain tense, although a Conservative government will be formed, but the leadership may be fluid!?

The AUD traded 0.7530, while the NZD regained 0.7200, ahead of local trade numbers set to be released.

Collinson FX Market Commentary - June 12 - Market absorbs election

Markets were calm after major events passed without the sky falling in. The UK election was a surprise and resulted in the a hung Parliament, although May has formed an alliance with Northern Ireland Unionists to form a majority, thereby avoiding total disaster.

The GBP fell more than two big figures, as the election unravelled for the Conservatives, but slowly recovered as markets digested the repercussions. A Government will be formed but leadership 'may' change in the near future!?

In the US, attention was focused on the former Director of the FBI, Comey. He testified in front of Congress and there were no major surprises or revelations.

The coming week will be highlighted by the meeting of the FOMC and the Bank of England. Add to that Inflation, Employment and Retail Sales and we have plenty of potential market click here and here Or for the latest update click here

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