sail-world.com -- Collinson FX Market Commentary: January 29, 2013 - Flat Opening
Collinson FX Market Commentary: January 29, 2013 - Flat Opening
Tue, 29 Jan 2013
Collinson FX market Commentary: January 29, 2013
Click here to find out how to get CollinsonFX's free iPhone app
Markets opened the new week lower with corporate earnings steady and some weaker housing news. The flat open to the week may just be a break in the rally January has developed. In the US, Pending Home Sales fell 4.3% contradicting the housing bulls and confounding market analysts. The sheer size of the housing surplus and weak demand would prevent any sudden and effective turn-around.
Durable Goods Orders jumped 4.6% which is good news and a positive from the consumer. The EUR continues to trade strongly at 1.3450 after the currency wars continue. The Japanese are intent on boosting their flagging export markets by diluting the Yen causing consternation in Europe and the US. The US and Europe have flooded their own markets in liquidity to gain an export advantage and stimulate growth so have little to complain about.
The currencies greatly effected are the AUD and KIWI who remain hugely disadvantaged and has been reflected in the strength of the currencies. The AUD has come off highs but still trades over 1.0400 after renewed floods in Queensland and NSW will preoccupy markets when they re-open after the Australia Day Holiday.
The KIWI begins the week 0.8315 with poor economic performance not being fully included in currency calculations due to Global Monetary largesse. Markets will continue to be driven by Central Banks and Political/fiscal ineptitude. Economic performance will be gauged by data and expectations cannot be high!?
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.
Onesails.com - Workforce
OneSails is the culmination of over 35 years of experience accumulated by our team in design and technology applied to sail-making. [More info]
GME Standard Communications Pty Ltd
Leaders in communications and navigation. Their goal has always been to make products whose innovation, convenience and peace of mind can help improve the lives of their customers. [More info]
Performance Sailcraft Australia (Asia Pacific)
Laser builder Performance Sailcraft Australia has taken on the successful RS Sailboat range from Britain, and is now licensed to build and distribute all of the RS range in the Asia Pacific region. [More info]
Sanctuary Cove International Boat Show
The Sanctuary Cove International Boat Show (SCIBS) is an annual four-day event which attracts buyers and marine industry representatives from across Australia and around the globe. [More info]
Sydney Rigging Specialists
Sydney Rigging Specialists is a leading company in the supply of yacht rigging, cordage, marine fittings and accessories. We are based in Sydney and work from our specially fitted out rigging shop. [More info]