Collinson FX Market Commentary- July 9, 2014 - New stat pushes ANZACs
by Collinson FX on 9 Jul 2014
Collinson FX market Commentary: July 5, 2014
http://itunes.apple.com/app/collinsonfx/id533360650?mt=8!Click_here to find out how to get CollinsonFX's free iPhone app
V5 - RNZYS Winter Series July 5, 2014 © Richard Gladwell www.richardgladwell.com
A slow leak appeared in a rather large equity bubble overnight. The sell-off gained momentum with the DOW plunging back below the record 17,000 level. Nervous investors have been spooked by Banks predicting an end to the biggest monetary expansion in history.
Goldmans was the latest to review the Feds end of QE and rate rises will be on the horizon. The endless flow of liquidity has fueled the expansion of the equity bubble and without major improvements on the economic front. The parameters set by the Fed was employment and inflation, which have improved to levels denying the Fed an excuse, but debt/deficit conditions remain perilous. The Fed minutes will be released tonight and should confirm an extended period of low interest rates blah, blah, blah...!
The IMF continued to review global economic conditions lower questioning the recovery. UK Manufacturing and Industrial production, reversed recent recovery, contracting for the month.
The GBP slipped back to 1.7130 while the EUR traded around 1.3600, supported by a weaker reserve currency, only.
Australian Business Confidence improved from 7 to 8, and gave a boost to the local currency. The AUD moved back towards 0.9400 enhanced by a weaker USD.
The KIWI was also the beneficiary of the measuring unit and mystified a deluded RBNZ, now approaching 0.8800. Markets will keenly await the Fed minutes and the their attitude to economic developments.
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/124254