Collinson FX Market Commentary - Mar 30 - Brexit Day comes and goes
by Collinson FX on 30 Mar 2017
- Oceanbridge NZL Sailing Regatta - Day 1 Richard Gladwell
www.photosport.co.nz
Collinson FX Market Commentary - Mar 30 - Brexit Day comes and goes
Mar 30 - The Brexit trigger was formally signed and presented to the EU. This has been the most important event in Europe and the UK in many years and has dramatically impacted equity and currency markets. The event itself was much anticipated but had little impact on markets. The massive speculation has had time to play out and now the actual terms of the divorce are being negotiated.
The GBP remained steady around 1.2420, while the EUR continued to give ground, trading at 1.0750. US Pending Home Sales jumped 5.5%, confirming previous housing data, boosting the leading sector. Commodities remained steady and the associated currencies showed resilience. The NZD consolidated above 0.7000, while the AUD pushed north of 0.7650, despite a firm reserve.
Collinson FX Market Commentary - Mar 29 - Consumer confidence up in US
Mar 29 - US Consumer Confidence surged to 125.6, from 116.1, inspiring equities to wipe out much of the recent losses. The S&P Case Shiller Home Price Index also jumped 5.9%, booking strong gains in this important leading sector, allowing market sentiment to recover.
The Healthcare debacle now in the rear-vision mirror, allowed the focus to turn to Tax reforms, deregulation and infrastructure. The Dollar regained some lost ground, with the EUR slipping back to 1.0800, while the GBP drifted to 1.2450. Commodity demand was solid, supporting associated currencies, despite a rising reserve.
The AUD regained 0.7630, while the NZD held 0.7000, awaiting leads from international markets. Brexit talks begin and this will impact the GBP while the US legislative process comes under the microscope.
Collinson FX Market Commentary - Mar 28 - Pro-Growth agenda threatened
Mar 28 -The Trump pro-growth agenda is now under threat, after the failure to pass the Healthcare reform bill, raising questions around tax reform. The administration is now being questioned over their ability to implement their legislative plans. The Trump rally was founded on a pro-growth, deregulation and low tax environment. This is now under threat and this is being reflected in equity markets and the Dollar.
The GBP traded 1.2500, while the EUR rose to 1.0870, supported by the IFO Business Climate report. The Dallas Fed Manufacturing Activity Index took a significant hit with the Healthcare failure, which was a pre-requisite to tax cuts, testing nervous markets.
The NZD held strongly above 0.7000, while the AUD drifted towards 0.7600, awaiting developments from the US click here and here Or for the latest update click here
Countries: | NZ: 0800 338 838 | AU: 1800 143 415 | NY: 1888 6257 833 | UK: 0800 0285 834 |
Disclaimer: The details expressed in this website and accompanying documents or transmissions are for information purposes only and are not intended as a solicitation for funds or a recommendation to trade. Collinson Forex Ltd accepts no liability whatsoever for any loss or damages suffered through any act or omission taken as a result of reading or interpreting any of the information contained or related to this site
If you want to link to this article then please use this URL: www.sail-world.com/152722