Please select your home edition
Edition
Collinson and Co

Collinson FX Market Commentary- June 18,2013 - Bulls emerge refreshed

by Collinson FX on 18 Jun 2013
Race Officer - 2013 Auckland Cup, Day 2 © Richard Gladwell www.photosport.co.nz

Collinson FX market Commentary: June 18, 2013

http://itunes.apple.com/app/collinsonfx/id533360650?mt=8!Click_here to find out how to get CollinsonFX's free iPhone app

Markets were controlled by speculation of the Fed's actions arising from the FOMC meeting this week. A report from the Financial Times suggested Bernanke would announce a tapering of the $85 Billion QE infinity Policy this meeting. This cut the big gains being booked on global equity markets.

Status Quo was the expectation prior to this report and markets had been surging strongly. The article pared gains as speculation is overwhelming market fundamentals. The USD regained some momentum with the EUR back to 1.3360 and the GBP to 1.5715. In the US, the Empire State Manufacturing reported gains and gave a positive outlook for Manufacturing in the zone. This complimented a rise in the NAHB Home Price Index.

The Bulls have come out refreshed but this all relies on Ben Bernanke. Commodity demand fell and prices reacted accordingly, which pushed demand for the associated currencies lower. The KIWI fell back below 0.8000 as the USD regained some ground despite local Consumer Confidence rising. The AUD fell back to 0.9550 with momentum flagging and local news of stalling new vehicle sales.

Political turmoil is rife as Parliamentarians return to the Capital for their final sitting before the election. The political instability can not be helping the Australian market which is being reflected in the currency. Market determinations will revolve around the Fed and their announced decision.

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.
Collinson and Co

Related Articles

Collinson FX Market Commentary - Jan 21 - New era begins for US
The weaker reserve, allowed the AUD to move to 0.7550, while the NZD held 0.7150. Trump is President and a new era begins. The new administration has outlined a broad outlook for the new USA and is expected to be highlighted by lower taxes, deregulation and fiscal expansion. The worry has been the trade policy but this will be more a renegotiation of existing trade agreements and more in the way of bi-lateral agreements.
Posted on 20 Jan
Collinson FX Market Commentary - Jan 20 - Markets steady in transition
Markets were steady ahead of the all important US inauguration for Trump tonight. Markets were steady ahead of the all important US inauguration for Trump tonight. The ECB left rates unchanged, in a dovish statement from ECB President Draghi, who observed no upward trend in inflation. By contrast, the Fed President was hawkish, commenting that goals of growth and employment were close to being satisfied, enabling interest rises in the current year.
Posted on 20 Jan
Collinson FX Market Commentary - Jan 19 - UKP surges on Brexit news
The AUD maintained 0.7500, while the NZD drifted back towards 0.7150, shy of the important technical level of 0.7200. UK PM May quelled many critics with her outline of Brexit and provided some plan for the future. Her vision of the return to a global power in trade was appreciated by markets, with the GBP surging to 1.2300, while overnight employment data remained strong.
Posted on 19 Jan
Collinson FX Market Commentary - Jan 18 - Brits opt for Free Trade
AUD trading 0.7540, while the NZD moves towards the important technical level of 0.7200. The Dollar continued to drift, as the GBP surged to 1.2400, while the EUR pushed towards 1.0700. Commodity currencies continued to prosper the slide in the reserve, with the AUD trading 0.7540, while the NZD moves towards the important technical level of 0.7200. The inauguration on Friday is the market focus
Posted on 18 Jan
Collinson FX Market Commentary - Jan 17 - Hard line on Brexit from May
The AUD drifted back to 0.7470, while the NZD held 0.7100, with all currencies being vulnerable to US Dollar swings. The Trump inauguration, on Friday, has also been the major consideration of markets this week. Doubts have surfaced about global trade and predatory industry/corporate tactics driving nervous speculation. The AUD drifted back to 0.7470, while the NZD held 0.7100, with all currencies being vulnerable to US Dollar swings.
Posted on 17 Jan
Collinson FX Market Commentary - Jan 16 - Market jitters over US moves
NZ Consumer Confidence was flat, lending little to a buoyant currency, which held 0.7100. Markets remain in a flux ahead of this week's US Inauguration with high expectations and uncertainties. The Dollar settled, with the EUR trading 1.0640, while the Yen held 114.00. NZ Consumer Confidence was flat, lending little to a buoyant currency, which held 0.7100.
Posted on 16 Jan
Collinson FX Market Commentary - Jan 13 - Trump can't save dollar
The AUD continued to rally strongly, pushing toward 0.7500, while the NZD set to break out targets at above 0.7200 The markets reversal began during the Trump press conference the previous day and continued as analysts digested the repercussions. The 'Trump effect' has been dented as a wider discussion ensues. Trumps promises of lower taxes, fiscal stimulus and deregulation have been roundly welcomed and boosted the equity markets and the Dollar.
Posted on 13 Jan
Collinson FX Market Commentary - Jan 12 - Late reversal for USD
A dramatic reversal in the Dollar has seen the AUD surge to 0.7470, while the NZD broke strongly above 0.7000! The focus remains on the US and the incoming administration. Update in late market trade in the US. A dramatic reversal in the Dollar has seen the AUD surge to 0.7470, while the NZD broke strongly above 0.7000!
Posted on 12 Jan
Collinson FX Market Commentary - Jan 11 - US Confidence surges
The AUD traded up to 0.7350, while the NZD slipped back below 0.7000, impacting the cross rate. Australian Consumer Confidence also surged, pushing to 120.1 from 113.40, which has influenced the local currency. The AUD traded up to 0.7350, while the NZD slipped back below 0.7000, impacting the cross rate. Markets remain focused on the incoming US administration while economic data drives daily direction.
Posted on 11 Jan
Collinson FX Market Commentary - Jan 10 - Australia moves ahead
The AUD reflected this, pushing back to 0.7350, while the NZD regained 0.7000. Australian economic data was positive, with construction rebounding, while Building Approvals jumped. The AUD reflected this, pushing back to 0.7350, while the NZD regained 0.7000. Economic data will drive markets in the lead up to the inauguration of Trump!
Posted on 10 Jan