Collinson FX Market Commentary - Oct 7

Collinson FX Market Commentary - Oct 7 - KIWI falls further

by Collinson FX on 8 Oct 2016

Auckland On The Water Boat Show - Day 4 - October 2, 2016 - Viaduct Events Centre - Sailing....Have a Go Richard Gladwell www.photosport.co.nz

Collinson FX Market Commentary - Oct 7 - KIWI falls further

Oct 07 - Equity markets were static overnight ahead of the Non Farm Payrolls release tonight in the States. Expectations are low, with around 175,000 jobs to be created, while the Unemployment rate is estimated to settle below 5%.

The participation rate is at historical lows and reflects the reality of the situation. The Dollar continues to rally as markets continue to speculate a rate rise from the Fed. The EUR dropped to 1.1150, while the GBP fell to 1.2640, mired in doomsday brexit scenarios.

Commodity currencies were not immune to the rising Dollar, with the AUD falling to 0.7575, while the KIWI has plunged to below 0.7150. All eyes remain on the NFP's and the speculation that will ensue! He's Our Rokkii in the Toorak!

Auckland On The Water Boat Show - Day 4 - October 3, 2016 - Viaduct Events Centre © Richard Gladwell www.photosport.co.nz

Collinson FX Market Commentary - Oct 6 - US Rate rise empty rhetoric

Oct 06 - Equities and Oil rebounded in the US, with some reasonable economic data, but not good enough for a Fed rate rise.

Oil is now fast approaching $50/barrel, post-Opec, while equities also gathered momentum on a weak reserve. Factory Orders and ISM Non-Manufacturing both turned positive, while expectations for job growth has tempered, allowing a soft ADP jobs report to slide.

Talk of a Fed rate rise is empty rhetoric on the eve of a Presidential election. The EUR held 1.1200, while the GBP trades on lows of 1.2750, despite positive UK economic data. Commodity currencies have reacted to a general campaign from the local Central Banks aided by reinforcement from the Dollar.

The NZD is now testing 0.7150, while the AUD holds above 0.7600, cementing one direction for the Trans-Tasman cross. Jobs numbers remain the market focus although tempered ambitions allow weak numbers.

Auckland On The Water Boat Show - Day 3 - October 1, 2016 - Viaduct Events Centre © Richard Gladwell www.photosport.co.nz

Collinson FX Market Commentary - Oct 5 - Dr Phil says more of the same

Equities in Europe managed to book some gains, despite the threats hanging over the local banking sector, posed by the Deutsche Bank crises evolution.

The Brexit trigger had a big impact on the GBP and a spike in the Dollar added to recent woes. The GBP fell to 1.2740, despite improving economic data, while the EUR held 1.1200. US Construction contracted 0.7%, while the ISM Manufacturing Index rose, sending mixed messages to the market. US Equities contradicted European markets, falling as the Dollar gained ground.

The RBA left rates unchanged, under the newly appointed Governor (Dr Philip) Lowe, who embraced continuity in words and action. The AUD was steady until the rising reserve hit the currency overnight. The AUD fell to 0.7620, while the NZD looks to test 0.7200, aided by a weaker Dairy auction.

For more on Collinson FX and market 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/148770

Related Articles

Collinson FX: Apr 11: US interest rates to drop
The RBNZ left rates unchanged in NZ, but talked a big game, about holding rates higher The RBNZ left rates unchanged in NZ, but talked a big game, about holding rates higher and squeezing out inflation. This has the desired impact on the NZD, which initially pushed upwards, but the news from the US on inflation, destroyed that narrative.
Posted on 11 Apr Collinson FX are at the Hutchwilco Boat Show
Collinson Forex, a prominent financial services company, is at the Hutchwilco NZ Boat Show Collinson Forex, a prominent financial services company, is making a notable presence at the NZ Boat Show in Auckland from the 18th-21st of May, demonstrating their commitment to the industry.
Posted on 19 May 2023 Collinson FX: Jan 20: No change with PM's exit
The NZ ‘PM of Aotearoa' resigned yesterday, which had little impact on the currency. The NZ ‘PM of Aotearoa' resigned yesterday, which had little impact on the currency, as this will have little impact on the NZ economy.
Posted on 19 Jan 2023 Collinson FX: Dec 5 - Risk appetite rallies
US Federal Reserve Chairman confirms the rate of future interest rate rises may slow US Federal Reserve Chairman confirms the rate of future interest rate rises may slow, as early as December.
Posted on 5 Dec 2022 Collinson FX: Sept 30 - A finger in the dyke
Inflation remains the big problem haunting Central banks across the Western world The Bank of England in an effort to combat the reckless unfunded UK Government's fiscal spendathon mini-budget, kept bond yields lower but is a finger in the dyke. AUD crashed back to 0.6450, while the NZD plunged to 0.5650
Posted on 29 Sep 2022 Collinson FX: June 15 - 'Bear' territory
Markets are crashing across the Western world, with equities charging into ‘bear market' territory Markets are crashing across the Western world, with equities charging into ‘bear market' territory, while crypto's collapse.
Posted on 14 Jun 2022 Collinson FX: June 14: Equity markets routed
The rout on equity markets continued overnight, to open the new trading week and spread The rout on equity markets continued overnight, to open the new trading week and spread to bond and currency markets
Posted on 13 Jun 2022