sail-world.com
 
 
News Home Cruising Photo Gallery Video Gallery
Sail-World.com : Collinson FX Market Commentary: August 22, 2012 - Apple symbolic
Collinson FX Market Commentary: August 22, 2012 - Apple symbolic

'Image of the Day The winning Dragon in action - Russian Open Championships 2012'    Carlo Borlenghi ©

Collinson FX market Commentary: August 22, 2012

In a world where Apple has become the biggest company in US history you have to wonder? A company that produces the iPhone and iPad is selling so many, at such a huge margin, that they are now worth more than many small countries. The company is beloved by stock holders but is symbolic of the current downturn in the US.

The brains trust reside in the bankrupt California but all production occurs in China. Sales are global and therefore revenues remain global due to the US tax system. This is indicative of the 'new normal', where growth and revenue occur offshore and the static domestic growth of Western Nations continues to be mired in socialised debt and budgetary crises.

The only respite is further Central bank intervention in expanding liquidity to the banks who refuse to stimulate the small/medium business but rather invest in the impending bubble that is treasuries! The monetary stimulus is eroding citizens wealth in real terms at a dramatic rate but I guess that is the plan. The EUR rallied to 1.2480 after concerns wavered in Europe as Merkel appointee to the ECB, Asmussen, endorsed an unlimited ECB Bond Buying program.

The sheer desperation of unlimited purchase of debt is astounding. It will solve the problem short-term but builds an almost insurmountable problem down the track. Some one has to pay the interest on the debt when budgets can not meet current obligations?!Fitch has warned of further downgrades after rallies in equities hit year highs on the back of monetary stimulus prospects. A removal of cancerous cells, in the form of Greece, may well provide some support for the single currency but that is assuming that Spain and Italy do not need a cull.

The GBP broke out of technical levels on the upside after the Bank of England endorsed a steady interest rate policy.

The RBA reiterated a steady as she goes policy with steady growth and inflation. The need to intervene is not pressing with monetary policy soft providing a surety for AUD holders at 1.0485. The KIWI traded around 0.8100 despite weak Credit Card expenditure and a flight of citizens to the Australian mining sector.

The Fed minutes may provide action but focus will increase on the central bank conference at Jackson Hole!

Amer Sports Too skipper Lisa McDonald 2001-02 Volvo Ocean Race -  Carlo Borlenghi   Click Here to view large photo


Collinson FX market Commentary: August 21, 2012

Mixed messages from Europe sent stocks lower although quiet economic data releases restricted moves. The Bundesbank has reiterated their reservations with regards the ECB's intended Bond buying program.

The reality is that Germany becomes the lender of last resort to a spiralling out of control Europe. A story was also circulating of the ECB imposing a cap on EU Bonds, would have enormous implications in terms of free market operation with far reaching unintended consequences. Merkel meets Hollande Thursday so this may have an impact as they mutually attempt to reassure markets. The EUR has traded sideways at 1.2350 and the GBP reaching 1.5700.

In the US, the Chicago Fed's Manufacturing Index slid lower but the lack of a dramatic collapse in the economy prevents the Fed intervening. Markets will look to the EU Debt/Deficit crises developments for direction and the Fed minutes later in the week.

The AUD stabilised to trade 1.0450 with political rumours swirling of an early election driven by a failure in the Budget surplus and an avalanche of pressure from failed economic policies. A look at the RBA minutes may give insight to the Central Banks view of economic conditions.

The KIWI also held below 0.8100 with not much going on domestically. Central Banks and leading politicians will provide market direction with technicals pointing to substantial resistance on the upside!

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.


by Collinson FX

  

Click on the FB Like link to post this story to your FB wall

http://www.sail-world.com/index.cfm?nid=101212

7:36 PM Tue 21 Aug 2012GMT


Click here for printer friendly version
Click here to send us feedback or comments about this story.

Click for further information on
2011 Collinson & Co

Related News Stories:

21 Aug 2012  Collinson FX Market Commentary: August 21, 2012 - Mixed messages
18 Aug 2012  Collinson FX Market Commentary: August 18, 2012 - Markets flatline
17 Aug 2012  Collinson FX Market Commentary: August 17, 2012 - No surprises
16 Aug 2012  Collinson FX Market Commentary: August 16, 2012 - Bad news turns good
28 Jul 2012  Collinson FX Market Commentary: July 27, 2012 - KIWI above 0.8100
25 Jul 2012  Collinson FX Market Commentary: July 25, 2012 - Negative credit watch
24 Jul 2012  Collinson FX Market Commentary: July 24, 2012 - Euros hit panic button
23 Jul 2012  Collinson FX Market Commentary: July 23, 2012 - KIWI drops under 0.80c
20 Jul 2012  Collinson FX Market Commentary: July 20, 2012 - The economic paradox
19 Jul 2012  Collinson FX Market Commentary: July 19, 2012 - Good news from USA
MORE STORIES ...




News - USA and the World

Catch the live coverage of the Leg 4 Finish in Auckland. Check the video timer for a countdown to the start of coverage and the expected race finish time. Sail-World is updating the on the water action and weather - which has compressed the lead four boats ... [more]  

On Sunday March 8th 2015, the St. Maarten Heineken Regatta will close out the final night of music with one of the most distinctive performances to date. DJ Natty Rico will be the final act to grace the regatta stage during the 'Legendary Party' following Kool and the Gang. His unique blend of saxophone playing and DJ skills will have your jaw dropping in amazement. ... [more]  

Racing in second place in the Barcelona World Race, the Barcelona sailor Guillermo Altadill and Chilean José Muñoz passed Cape Horn (67° 17' 35 W) this morning at 2h12 UTC (3h12 am in Barcelona, 11h12 pm of the 27th of February in Chile), after 58 days, 14 hours and 12 minutes of racing since their start from the Catalan capital on 31 December 2014. ... [more]  

Barcelona World Race - Cape Horn beckons for second and third placed Neutrogena and GAES Centros Auditivos. While the two IMOCA 60s are expected to pass at speed with around six hours of separation, in what might be considered favourable conditions for one of the most inhospitable and complicated corners of the Barcelona World Race, amidst the long hours of stress and fatigue ... [more]  

SCYA Manning Regatta – The youth-heavy event is the fourth and last stop of the Shadden Series for teenagers under 19 not yet in college and is also a move-up regatta under the advancement guidelines of the International Naples Sabot Association. ... [more]  

US Sailing’s Rolex Yachtsman & Yachtswoman of the Year Awards 2015 ceremony celebrated the sailing accomplishments of Terry Hutchinson (Annapolis, Md.) and Stephanie Roble (East Troy, Wisc.) as it returned to the iconic Model Room at the New York Yacht Club in Manhattan after having moved to the west coast for the past three years. ... [more]  

For the Finn World Masters in Kavala, Greece pre-registration is open. So far 130 Masters have entered. 2015 will be the first time the Worlds Masters have been held in Greece. ... [more]  

The website for the 2015 Finn Open and Junior Europeans in Split, Croatia, is now live, with online entry open. The last time the Finns had an event there the wind did not cooperate and the fleet ended up sailing some races as the sun set. ... [more]  

RORC Caribbean 600 – Four Figaro II teams, all from the Guadeloupe Grand Large sailing academy, are racing in this year's event. 18 sailors from the offshore racing academy are racing on four identical yachts and have high aspirations for the future; the Solitaire du Figaro, Route du Rhum or the Everest of offshore solo-sailing, the Vendée Globe. ... [more]  

After having moved to the west coast for the past three years, US Sailing’s Rolex Yachtsman and Yachtswoman of the Year Awards ceremony returned to the iconic Model Room at the New York Yacht Club in Manhattan to celebrate the sailing accomplishments of Terry Hutchinson (Annapolis, Md.) and Stephanie Roble (East Troy, Wisc.). ... [more]  

If, in the end, the Pacific gave up race leaders Cheminées Poujoulat without too much of a fight and since Wednesday morning the Atlantic, in turn, has opened its fastest toll-free lane north east to Bernard Stamm and Jean Le Cam, the Pacific seems rather more keen to hold on to second and third placed Neutrogena and GAES Centros Auditivos. ... [more]  

America's Cup Defender Oracle Team USA and Challenger, Artemis Racing lined up for a series of try-outs on San Francisco Bay. Videographer John Navas was shoreside with a new high resolution video camera and provided these videos of the training sessions and hook-ups. ... [more]  

The HPYD conference is jointly organised by The Royal Institution of Naval Architects (NZ) and The University of Auckland and will be held at the Marine Event Centre in Auckland to coincide with the Volvo Ocean Race stopover. It attracts some of the world’s most preeminent yacht designers and is recognised as one of the top three conferences in this area internationally. ... [more]  

Volvo Ocean Race: Ryan Houston - How Alvimedica's chemistry works *Feature by Richard Gladwell/Sail-World.com NZL
Ryan Houston is a watch captain aboard Team Alvimedica. He sailed in two previous editions of the Volvo Ocean Race – in 2008-09 aboard Delta Lloyd and 2011-12 on the incident plagued Volvo 70, Sanya. With the switch to the one design, ruggedly constructed Volvo 65 for this race many of the issues that bedevilled the competitors and organisers in the previous races appear to have been resolved. ... [more]  

Volvo Ocean Race: Dave Swete - Alvimedica's race so far *Feature by Richard Gladwell/Sail-World.com NZL
The Volvo Ocean Race and its forerunner, the Whitbread Round the World Race, used to be dominated by Kiwi crews. In the current edition, there are just three New Zealanders competing. Two of those are on Team Alvimedica, the US and Turkish flagged entry. ... [more]  

Volvo Ocean Race 2015 – Victory in the fourth leg was so close that Dongfeng Race Team skipper Charles Caudrelier (FRA) could almost taste it on Thursday, but with just over 500 nautical miles (nm) to go, he was taking nothing for granted ... [more]  

The 2014-15 Etchells North American Midwinter East Series wraps up in Miami this weekend with the three-day Jaguar Southeastern Midwinter Regatta for the Schoonmaker Cup. The Jag, as the series has become better known, attracted over 50 boats for the four regatta series. ... [more]  

RORC Caribbean 600 – By the morning of day four, 19 yachts had completed the race and 43 yachts were still racing. Last night the lighter southerly wind had switched back to an easterly direction with substantial cloud activity providing changeable conditions for the competitors ... [more]  

Volvo Ocean Race: Team Alvimedica hopes to use Coastal Classic tricks *Feature by Richard Gladwell, Sail-World.com NZL
Sail-World’s NZ Editor, Richard Gladwell spoke with David Swete one of three New Zealand crew in the 2014-15 Volvo Ocean Race Swete was reporting in from Team Alvimedica the US and Turkish flagged entry, currently lying in fourth place on leg 4 of the race from Sanya China to Auckand. ... [more]  

Oracle Team USA AC45 Turbo Feb 25 Training images provided by pressure-drop.us. Flat flood conditions and winds 12-18 and then picking up late in the day. Boat is matching the olars established with the AC 72's. ... [more]  

America's Cup: Emirates Team New Zealand gears up on less money *Feature by Richard Gladwell, Sail-World.com NZL
Emirates Team New Zealand has pushed the start button on their campaign for the 35th America's Cup, with a budget that has been reduced by an estimated 20% from the San Francisco campaign. The decision to relocate the Venue for the Match to the British Overseas Territory of Bermuda has resulted in reduced attractiveness to sponsors, which in turn has led to cuts in the program ... [more]  

Volvo Ocean Race 2015 – Dongfeng has pulled another mile from Abu Dhabi, and MAPFRE looks like they have been making some good gains on the two leading boats. ... [more]  

AWT Goya Pro Cabo Verde kicks off in style! by American Windsurfing Tour
Last night saw the Opening Party for the Goya Cabo Verde Pro contest here on the beautiful island of Sal. In attendance were some of the biggest names in windsurfing along with local watermen, business men and dignitaries. The true spirit of the American Windsurfing Tour came out in force which was both mirrored and complimented by the spirit of this island ... [more]  

With Cheminées Poujoulat making good progress up the Atlantic, making close to 18kts, 120 miles SW of the Falklands, Cape Horn marks the frontier between the two different worlds inhabited by skippers on the Barcelona World Race. ... [more]  

Emirates Team New Zealand has announced a team restructuring ahead on next week's expected announcement that the Qualifier for the 2017 America's Cup will be held in Auckland. The statement issued by the team early this afternoon, indicates the team has secured substantial funding and sponsorship for its 2017 campaign. ... [more]  

2015 CYC Midwinters Race – Pictures by pressure-drop.us ... [more]  

CYC Midwinters Racing – 'Mid Winter racing is like a box of chocolates, you never know what you are gonna get' ~Forrest Gump~Skipper of SS Jenny ... [more]  

Laser Standard Men’s World Championships (June 29-July 8), the Laser Masters World Championships (July 10-18), and the Laser Radial Youth World Championships (August 14-20) are being hosted by the CORK. ... [more]  

Kaenon's Steve Rosenberg talks with Team SCA crew members Sally Barkow and Annie Lush before the start of Leg 4 of the Volvo Ocean Race. Both are former Olympic match racers, who have switched to ocean racing. Both are wearing the new prescription Kaenon sunglasses in the 40,000nm race around the world. ... [more]  

Volvo Ocean Race 2015 – Overnight Ian Walker reported getting ahead of Charles Caudrelier’s Dongfeng only to have Mother Nature take it all back again, getting caught under a rain cloud in light winds ... [more]  

Barcelona World Race - Mythical, revered, renowned, legendary.....but above all Cape Horn is a time for extra care and caution. While observers and race fans may be poised to share and enjoy the passage of the race leaders Cheminées Poujoulat this Tuesday evening, Swiss co-skipper Bernard Stamm of race leaders Cheminées Poujoulat was clear that there will be little time for celebration ... [more]  

Lloyd Thornburg's MOD 70, Phaedo3 crossed the finish line in Antigua at 20:35:30 AST on Tuesday 24th February 2015 in an elapsed time of 1 day, 9 hours, 35 minutes and 30 seconds. ... [more]  

Barcelona World Race - Cheminées Poujoulat, which has lead the two handed round the world race for 39 days, has passed Cape Horn (67°15 11 W) at 01:00 UTC (02:00 Barcelona time, 22:00 Chilean time). ... [more]  

2015 RORC Caribbean 600 - Records predicted to tumble + Video
2015 ISAF Women’s Match Racing World Championship - NOR released
Asher Otto and Itchy Feet to open up the Caribbean Jam night
RS Sailing and BIC Sport North America team up for sailing programs
RORC Caribbean 600 – Record pace on Day 2
Port of Los Angeles Harbor Cup - About to begin
10 tips from BoatUS for owners and renters
Aquece Rio International Sailing Regatta – Notice of Race online
2015 CYC Mid Winters images by h20shots
Adventures of a Sailor Girl: News and interviews from February 23 show
Volvo Ocean Race: Ryan Houston looking forward to his Kiwi home
Volvo Ocean Race: Wislang expected to lead Kiwis home after fast ride
Volvo Ocean Race – Now the race to Auckland is truly on
America's Cup: Spooner fails in attempt to have Oracle AC45 arrested
2015 505 Midwinter Championship - Final race
Barcelona World Race – Renault Captur resume, Spirit of Hungary stuck
2015 ISAF Youth Sailing World – Emerging Nations Programme announced
Barcelona World Race - Spirit of Hungary to make surprise pit-stop
US Sailing Match Racing Committee launches The Dial Up Newsletter
JJ Giltinan Trophy: Michael Chittenden's images from Race 7
Volvo Ocean Race – The Doldrums outside the Doldrums   
Volvo Ocean Race: Leg 4 Winner expected in Auckland on Saturday   
Volvo Ocean Race 2015 – Biggest challenges are around the corner   
86th SCYA Midwinter Regatta - Day 2 overall   
SCYA Midwinter Regatta - Farr 40 and Cal 25 class winners announced   
Barcelona World Race - The Bountiful Horn Beckons for Stamm and Le Cam   
Geelong boat Phoenix wins Sydney 38 National Title   
JJ Giltinan 18 foot Skiff Championship 2015 images by Bruce Kerridge   
Volvo Ocean Race - Leg 4 restart from the Doldrums   
Melges 24 U.S. Championship is enjoying early success   
JJ Giltinan Trophy: Records set as rookie Kiwi crew second in Race 7   
Around Antigua Island Race - Unofficial record   
Miami International Boat Show Innovation Award winners honored   
86th SCYA Midwinter Regatta - Day 1   
St. Maarten Heineken Regatta crew forum - place to find crew or a ride   
J/24 Midwinter Championship - Will Welles’ Cougar hanging on by a claw   
JJ Giltinan Trophy: Watch Race 7 here - Live and then in Replay!   
America's Cup: Oracle Team USA goes out past the Golden Gate + Video   
JJ Giltinan Trophy: Michael Chittenden's images from Race 6   
JJ Giltinan Trophy: Race 6 interviews with Hamlin, Thurlow and Yamaha   


For this week's complete news stories select    Last 7 Days
   Search All News
For last month's complete news stories select    Last 30 Days
   Archive News





Sail-World.com  


















Switch Default Region to:

Social Media

Asia

Australia

Canada

Europe

New Zealand

United Kingdom


http://www.sail-world.com/event_images/image/Twitter_logo_small.png http://www.sail-world.com/event_images/image/FaceBook-icon.png  http://www.sail-world.com/event_images/image/RSS-Icon.png

United States

Cruising Northern

Cruising Southern

MarineBusiness World

PowerBoat World

FishingBoating World

 

Contact

Commercial

News

Search

Contact Us

Advertisers Information

Submit news/events

Search Stories/Text

Feedback

Advertisers Directory

Newsletter Archive

Photo Gallery

 

Banner Advertising Details

Newsletter Subscribe

Video Gallery

Policies

 

 

 

Privacy Policy

 

 


Cookie Policy

 

 



This site and its contents are © Copyright TetraMedia and/or the original author, photographer etc. All Rights Reserved.  Photographs are copyright by law.  If you wish to use or buy a photograph contact the photographer directly.
XLXL NEW US
LocalAds   DE  ES  FR  IT