Collinson FX Market Commentary - Mar 1

Collinson FX Market Commentary - Mar 1 - USD expected to rise

by Collinson FX on 1 Mar 2017

49erFX - Oceanbridge NZL Sailing Regatta - Day 1 Richard Gladwell www.photosport.co.nz

Collinson FX Market Commentary - Mar 1 - USD expected to rise

US markets await the Trump address of both Congressional institutions, all the while economic indicators welcome his policies, with the Chicago Purchasing Manager and the Richmond Fed Index both bullish. US GDP was static, around 2.0%, but this historical measure will likely improve.

European economic data remains negative, but the rising tide lifts all boats, giving the US the lead role. The EUR trades around 1.0600, while the Yen pushed below 112.00, but the Dollar is likely to reflect positive sentiment from the Trump address of Congress.

NZ Trade data was flat, with a rise in both Exports and Imports, but a stronger KIWI has not improved the terms of trade. The NZD held above 0.7200, while the AUD floundered below 0.7700, mired in a political quagmire. All eyes remain focused on the Presidents address of Congress.

Collinson FX Market Commentary - Feb 28 - Rates rise tipped for March

Markets were steady, to open the week, with both equities and the Dollar treading water. All the focus is on the Presidential address, to both houses of Congress, known as the 'State of the Union' in all but the inauguration year. Trump is expected to reveal his agenda over the next year, outlining plans for tax, deregulation and Healthcare reform.

The Budget will also come in to focus, with increased spending in the military, while savings may be also suggested. Trump met with the Governors and assured them of controlled Federal spending, indicating a 'lean and accountable' bureaucracy, providing more decentralisation to the States. Durable Goods Orders jumped 1.8%, while Pending Home Sales contracted 2.8%, although remained stronger annually.

The Yen traded 112.30, while the EUR pushed above 1.0600, despite weak Consumer Confidence data. The Fed are likely to raise rates in March, which should support the Dollar bull run, while equities lap up the Trump rhetoric. The KIWI holds above 0.7200, while the AUD struggles to regain 0.7700, with reserve activity likely drive click here and here Or for the latest update click here

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