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Sail-World.com : Collinson FX Market Commentary: August 5, 2013 - KIWI drops
Collinson FX Market Commentary: August 5, 2013 - KIWI drops


'SKUD18 in 30kts and white water - Day 4, Oceanbridge Sail Auckland 2013'    Richard Gladwell ©    Click Here to view large photo

Collinson FX market Commentary: August 5, 2013

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The big news to close the week was a miss in Non-Farm Payroll expectations. The markets were expecting 185,000 but received only 162,000, although the Unemployment rate fell to 7.4% due to falling participation. The news was not good, but the markets took it in their stride with little movement after Bernanke's reassurances earlier in the week.

The EUR traded 1.3275 and the GBP 1.5300. Central Bank support from Europe ad the US has reinvigorated equity markets and continue to inflate the bubble. Commodities drifted as demand from China contracts and economic conditions deteriorate. The AUD now broke below 0.8900 after a string of weak economic data and a massive write down in Budgetary conditions.

The Budget is now in crises and with an election looming (SEPT 7TH) it is hard to see these economic vandals being re-elected! The NZD/USD and its crosses have opened the week considerably lower, than its .7850 close on Saturday am, at .7725 as the news from the Fonterra milk powder crisis hits the airwaves....look for more volatility here as events unfold. This week will continue to be dominated by Central Banks with likely cuts from the RBA!

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by Collinson FX

  

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6:17 AM Mon 5 Aug 2013GMT


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Related News Stories:

02 Aug 2013  Collinson FX Market Commentary: August 2, 2013 - ANZAC's dragged down
01 Aug 2013  Collinson FX Market Commentary: August 1, 2013 - AUD slides further
31 Jul 2013  Collinson FX Market Commentary: July 31, 2013 - Aussie takes a bath
30 Jul 2013  Collinson FX Market Commentary: July 30, 2013 - US Dollar gains
29 Jul 2013  Collinson FX Market Commentary: July 29, 2013 - KIWI Surges
26 Jul 2013  Collinson FX Market Commentary: July 26, 2013 - Jawboning the rates
25 Jul 2013  Collinson FX Market Commentary: July 25, 2013 - KIWI gives up chase
24 Jul 2013  Collinson FX Market Commentary: July 24, 2013 - KIWI looking stromg
23 Jul 2013  Collinson FX Market Commentary: July 23, 2013 - Brit's distractions
20 Jul 2013  Collinson FX Market Commentary: July 20, 2013 - Flat Markets end week
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