Collinson FX Market Commentary- February 25, 2013 - US Equity surge
by Collinson FX on 25 Feb 2013
Collinson FX market Commentary: February 25, 2013
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US Equity markets wiped out the weeks losses with a Friday surge sparked by some good economic news from Europe and some pro-QE statements from St Louis Fed Chairman.
In Europe German IFO Business Climate rose to a 3 year high although exports and imports contracted. A German recovery could spark a recovery in Europe but these assumptions ignore the harsh economic realities. In the US, James Bullard suggested QE was here for a 'long time' which reassured many frightened by earlier statements questioning the impact of QE Infinity.
The EUR remained weak at 1.3185 and the GBP 1.5175. The recovery of risk-appetite softened the Dollar against the commodity currencies with the AUD retesting 1.0300 and the KIWI back to 0.8348. A flood of economic data from Europe and the US will drive markets in the coming week.
A good look at GDP growth an Employment with a closer look at US Housing. Can the Bulls ignore economic reality?
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