Collinson FX Market Commentary- January 21, 2014 - AUD on downer
by Collinson FX on 21 Jan 2014
The refurbished Steinlager II on the Waitemata harbour Richard Gladwell
www.photosport.co.nz
Collinson FX market Commentary: January 17, 2014, 2013
http://itunes.apple.com/app/collinsonfx/id533360650?mt=8!Click_here to find out how to get CollinsonFX's free iPhone app
US markets were closed for the MLK Holiday, so we saw little action in the markets, which is likely to continue until at least Wednesday when the river of economic data commences.
The EUR was steady, trading 1.3550, and the GBP 1.6425. European markets also remained steady, despite some tremors from Asia. Chinese economic data disappointed with GDP slipping from 7.8% to 7.7%. Industrial Production also slowed, falling from the previous 10% growth rate, back to 9.7%. A slow down in Asian markets is not wholly unexpected but the slack, globally, is expected to be taken up by the developed economies.
The AUD hit four year lows with the disappointing data from China but recovered to open around 0.8800. The KIWI also came under pressure, with local House Prices contracting 1%, reversing the recent explosion in prices and sales.
The NZD also recovered with European markets and will open around 0.8250. A building crescendo of economic data releases and the impact on Central Bank Monetary Policy will drive the remainder of the week.
For more on Collinson FX and market information see:
www.collinsonfx.com and www.collinsonwealthmanagement.com
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/118546