Collinson FX Market Commentary - June 6 - NZD tries 72c
by Collinson FX on 7 Jun 2017
Sean Herbert crosses the finish line to win the final race and win the 2017 Starling National Championship - Final Day - Wakatere Boating Club. April 18, 2017 Richard Gladwell
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Collinson FX Market Commentary - June 6 - NZD tries 72c
Markets were steady overnight with the Dollar and equities drifting. The ECB rate decision is expected to continue QE but may signal a change in attitude. The associated commentary may indicate the Central Bank may begin to recognise stronger economic conditions and accede to the Bundesbank's demands.
The UK election on Thursday has heated up the tin roof for the cat, with polls unexpectedly tightening, after what was expected to be a landslide victory for the Conservatives. An election climate dominated by terror and immigration, has taken the focus off the economy, while Brexit looms large. The Tories should win, with Labour only likely to perform well in high diversity areas, such as London.
The GBP traded around 1.2900, while the EUR hit 1.1270, preparing for volatility. The Yen has been a major beneficiary of safety plays, moving to 109.40, free of major controversy. The RBA left the rates unchanged, as expected, allowing the AUD to push through 0.7500. The NZD tested 0.7200, continuing the march upwards, supported by higher commodity prices and a positive Dairy
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