Collinson FX Market Commentary- March 26, 2014- Risk appetite returns
by Collinson FX on 27 Mar 2014
Collinson FX market Commentary: March 26, 2014
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A lull in developments in the Ukraine has led to a recovery in Equities reinforced by a rise in US Consumer Confidence. There were no new advancements in the Crimean sphere of activity with consolidation allowing some breathing space. US Consumer Confidence jumped to 82.3, from 78.3, perhaps signalling a spring rally.
The EUR was flat, trading around 1.3850, with the GBP 1.6530. Commodities continued to climb and confidence returned to associated currencies as the AUD rose to 0.9150 and the KIWI to 0.8560.
Risk appetite has returned, as the new status quo is embedded across Europe, allowing markets to follow trends. Domestic economic activity has talked a back seat recently but further US Housing Data and GDP growth numbers may have a impact on daily markets. The Geo-Political situation in Europe will impact markets as a new world order emerges in Europe.
Collinson FX market Commentary: March 25, 2014
Equities opened the new week lower with Europe simmering and economic conditions globally weaker. China Flash Manufacturing PMI revealed a slower manufacturing sector in the worlds factory. European Manufacturing PMI was lower in Germany and the EU, with Manufacturing and Services both falling, although France bucked the trend.
The Chicago National Activity Index improved, but remains slow, with the emergence from a nasty winter. This week will focus on US GDP growth and Housing data to provide domestic drivers to equities and currencies. The lack of confidence has lead to a weaker USD as the EUR jumped to 1.3860 and the GBP 1.6520. Risk sentiment has improved with Russia consolidating the Crimea and the West talking a lot.
Commodity currencies thrive on improved risk sentiment and the AUD again broke above 0.9100 and the KIWI 0.8540 in overnight market. Economic data from the US and Geo-Political developments from Europe will again dominate markets for the week
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