Please select your home edition
Edition
Collinson and Co

Collinson FX Market Commentary- October 16, 2012 - Markets open strong

by Collinson FX on 16 Oct 2012
Image of the Day Trieste, 22/03/12 Barcolana 2012 Esimit Europa 2 winner of 44 Barcolana race Carlo Borlenghi/Luca Butto

Collinson FX market Commentary: October 16, 2012

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

The markets opened the week stronger putting a week of losses behind and looking at strong economic data and corporate earnings. Chinese CPI slowed as did the PPI which lowered input costs and eased monetary pressures. Exports from China doubled beating expectations and weakening recent trade data.

In Europe, the German Finance Minister refuted a Greek default and espoused the harm of an exit on the EU family. In the US, Retail Sales leapt 1.1% beating expectations and giving risk appetite a boost. This was tempered by the Empire State Manufacturing survey which contracted for the third straight month. The EUR held steady at 1.2940 and the GBP 1.6070.

The weak Manufacturing data hit commodities falling uniformly. The immediate impact on the associated currencies was tempered by the strong data from China. The AUD held 1.0250 and the KIWI 0.8180 with rising Home Loans and Car Sales reflecting a recovery in these major sectors after RBA easing policies beginning to impact. Corporate earnings have been strong, lead by Financials with Citi beating expectations with a free pass from Bond Yield returns.

Look for developments from Europe and economic data and corporate earnings to drive market sentiment in the US. Election fever is rising in the US and the gains by Romney are a positive for markets with Obama ineptitude well and truely exposed.

The second debate tonight may well cement the rise of conservatives with the 'Great Orator' unable to combat mortal questioning!

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 - Sep 17 - NZD consumed by Election
AUD falling below 0.8000, while the NZD is consumed by polls leading up to the General Election. The coming week will be headlined by the FOMC rate decision, along with a stream of housing and PMI data from Europe and the US. Commodity currencies will begin the week under pressure, with the AUD falling below 0.8000, while the NZD is consumed by polls leading up to the General Election.
Posted on 18 Sep
Collinson FX Market Commentary - Sep 15 - Oz data fails to impress
The NZD held 0.7200, but remains vulnerable to polls for the coming election, which will dominate the currency. Australian Employment data was steady, but failed to impress markets, as the AUD wallowed below 0.8000. Chinese Inustrial Production and a Retail Sales, both drifted, impacting commodity demand. The NZD held 0.7200, but remains vulnerable to polls for the coming election, which will dominate the currency.
Posted on 16 Sep
Collinson FX Market Commentary - Sep 14 - Brits lift on strong economy
The NZD has been extremely volatile, as the national election approaches, driven by poll results. The GBP outperformed, as Unemployment dipped to 4.3%, in line with strong economic data in recent times. The AUD slipped below 0.8000, despite some positive consumer confidence numbers, as commodities soften. The NZD has been extremely volatile, as the national election approaches, driven by poll results.
Posted on 14 Sep
Collinson FX Market Commentary - Sep 12 - Confidence after the Storm
The AUD settled, ahead of important employment data releases later in the week, while the NZD held 0.7250 This was a great relief to markets as safe haven moves unwind. Gold prices drifted and bond yields returned to normal. The Dollar rebounded strongly, with the EUR falling to 1.1950, while the Yen reverted to 109.35. The focus will now return to Geo-Political crises over North Korea and economic developments.
Posted on 12 Sep
Collinson FX Market Commentary - Sep 10 - Weather hits USD
NZD, jumped to 0.7270, the AUD continued to post gains, rising up to 0.8050 The Dollar has been hit hard, with the GBP spiking to 1.3200, while the Yen trade 107.70. Bi-Partisan deals from Washington has ignited some hope of legislative action on tax providing some underlying confidence despite the weather events.
Posted on 11 Sep
Collinson FX Market Commentary - Sep 8 - US interest rate rise delay
The AUD pushed 0.8025, while the NZD looks to regain 0.7200. The GBP jumped to 1.3080, while the Yen traded 108.50, reflecting weakness in the reserve. Commodity currencies were also beneficiaries of the weaker Dollar, with the AUD pushing 0.8025, while the NZD looks to regain 0.7200. Geo-Political issues, in the form of North Korea, will continue to promote market safety moves.
Posted on 8 Sep
Collinson FX Market Commentary - Sep 7 - Trump deal breaks ground
The NZD slipped back below 0.7200, while the AUD broke 0.8000, supported by local GDP growth data Equity markets regained some lost ground, on the news the Trump administration had done a deal with Congressional Democrats, over Hurricane Harvey relief and the Debt Ceiling. The breakthrough of bi-partisanship in Washington is a step forward and a signal legislation may be forthcoming.
Posted on 7 Sep
Collinson FX Market Commentary - Sep 4 - Kiwi under extreme pressure
The AUD held 0.7950, supported by strong commodity prices, while the NZD traded 0.7150. The AUD held 0.7950, supported by strong commodity prices, while the NZD traded 0.7150. The NZD has been under extreme pressure, of late, as polls indicate the left wing Labour party may regain office. The coming week is swimming in an ocean of economic data releases and Central Bank rate decisions. Central Bank commentary, accompanying the decisions, will drive local markets and the RBA will
Posted on 4 Sep
Collinson FX Market Commentary - Sep 1 - KIWI flounders
AUD to push up to 0.7950, while the NZD floundered towards 0.7150. The NZD has been under pressure for some time The EUR regained 1.1900, while the Yen pushed 110.00, reflecting a softer Dollar. Commodity currency reaction was mixed, with the softening reserve allowing the AUD to push up to 0.7950, while the NZD floundered towards 0.7150. The NZD has been under pressure for some time, leading in to a general election, with change to the left threatening economic stability.
Posted on 1 Sep
Collinson FX Market Commentary - Aug 30 - Missile triggers sell-off
AUD pushing back to 0.7950, while the NZD approaches 0.7250 North Korea fired yet another ICBM, this time over Japan, in provocation. This reignited tensions, in the immediate area, but has further reaching implications. European markets were sold off, while awaiting the return of serve from NOKO's neighbours and the USA.
Posted on 30 Aug