Collinson FX Market Commentary- March 25, 2014- AUD breaks .9100
by Collinson FX on 26 Mar 2014
Collinson FX market Commentary: March 25, 2014
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Peter Burling (NZL) A-class catamaran World Championships, Day 3, Takapuna February 13, 2014 Richard Gladwell www.photosport.co.nz
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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