sail-world.com
 
 
News Home Cruising Photo Gallery Video Gallery
Sail-World.com : Collinson FX Market Commentary: February 14, 2013 - State of the Union
Collinson FX Market Commentary: February 14, 2013 - State of the Union

'Andrew Murdoch - New Zealand Finn Nationals, Takapuna, February 2013'    Richard Gladwell ©    Click Here to view large photo

Collinson FX market Commentary: February 14, 2013

Click here to find out how to get CollinsonFX's free iPhone app

The State of the Union address went well with Obama calling for bi-partisanship and some new investment (code for spending). Bi-partisanship for the unnanointed, means agreeing with Obama's progressive, liberal policies or having to face the music.

There was nothing new in his vision for the USA, bar raising the minimum wage by 25% and some more stimulus spending. No surprises there, but the DOW drifted from 5 year highs after some disappointing economic news. Retail Sales remained flat after the consumer was hit with rises in Tax and Gas prices. Weekly Mortgage Applications continued to contradict the much vaunted recovery in the housing market, falling 6.4%! EU Industrial Production rose 0.7% for the month boosting confidence and equities but remains negative 2.4% for the year.

The EUR gained to 1.3450 as the GBP slipped back to 1.5550 after inflation data confirmed a problem. A G7 statement released before the G7/G20 meeting reiterated their support for market driven currencies contradicting the actions of the member nations. The 'currency wars' being waged by the Central Banks from the US, EU and Japan are hypocritical in the extreme.

The beneficiaries of this interventionist monetary policy, are the AUD (1.0350) and the KIWI (0.8390). Currency gains are a hammer blow to exports and this is severely impacting the recovery . NZ Treasury forecasts continue to confirm a slow recovery and a relatively strong currency so no relief in sight!

Look at the G7/G20 meeting for some claptrap and weak economic data globally to continue. Asia remains quiet during Chinese New Year.

Dan Slater driving the coachboat - New Zealand Finn Nationals, Takapuna, February 2013 -  Richard Gladwell_©   Click Here to view large photo

Collinson FX market Commentary: February 13, 2013

Equity Markets rebounded to test the crucial 14,000 level on the Dow. The Dow has tested the 14,000 level over the last few weeks cementing the importance, on a Technical level, and making it a crucial top which mat lead to a surge upwards if breached seriously.

Europe remained quiet with little emerging from considerations from the EU Finance Ministers. US markets await the 'State of the Union' address from Obama in a few hours to outline his new strategy for the USA. It is likely to be aggressive and deluded as he doubles down on the failed policies of the his previous administration. He has no electoral constraints and his liberal love of progressivism will build the Government into an overwhelming behemoth.

The increase of spending, tax and borrowing should seal the deal on the road to European Socialism.

The EUR traded 1.3450 and the GBP 1.5650 with little happening in the currency markets. NFIB Small Business Confidence improved marginally in the US but economic data is likely to reflect the parlous state of the worlds largest economy.

The KIWI trades strongly at 0.8415 after a 21% rise in House Sales although the Home Price index retraced 1%.

In Australian the currency regained the 1.0300 level with business confidence rising but economic conditions look extremely vulnerable with an incompetent managers. Look for developments in Europe and the US to provide direction during the Chinese New Year week of festivities!

Finn100213 (29) - New Zealand Finn Nationals, Takapuna, February 2013  Richard Gladwell_©   Click Here to view large photo

Collinson FX market Commentary: February 12, 2013
EU Finance Ministers gather in Brussels to discuss weighty financial problems facing the single market. At the top of the list is Greece and Cyprus and the state of the bailouts. The size of these countries have enabled the EU to afford continued bailout for the greater good, but the sheer magnitude must be scaring many.

Cyprus has applied for bailout for more than the total GDP of the country! This is beyond most reasonable peoples comprehension and dwarfs even the extent of the Greek intervention!

In the US, markets are looking forward to the State of the Union delivered by Obama Tuesday night. This will set out the agenda for his new administration and talk on the street is he will call for more stimulus. Incredible as it may seem, he is set to advocate for more spending to improve the economic situation. Keynes must be doing back-flips and somersaults in his grave with the corruption of his economic theory!

The EUR traded 1.3415 and the GBP 1.5675 with equity markets slipping with quiet market action. The Chinese New Year will mean a quiet trading week across Asia and a focus on Europe and the US. The KIWI continues to trade strongly around 0.8350 with Home Prices continuing to rise with a move up of 6.2%. Australian Home Loans contracted 1.5% as the AUD slipped below 1.0300.

A quiet week is expected although Political surprises cannot be underestimated!

Finn100213 (26) - New Zealand Finn Nationals, Takapuna, February 2013  Richard Gladwell_©   Click Here to view large photo

Collinson FX market Commentary: February 11, 2013

EU Leaders met and reached an agreement on cutting the budget after pressure from Britain's PM Cameron.

This is the first meeting since Cameron floated the EU 'withdrawal boat' and leaders would be trying to accomodate the British to maintain unity. The EUR traded lower around 1.3350 and the GBP 1.5800, with many analysts wary of the Unions slip back to crises mode. In the US, the Trade deficit contracted surprising many but a fall in demand is hardly a reason to celebrate. The new week will look at Political developments in Europe with a G20 Finance Ministers meeting.

These gatherings usually achieve results as opposed to the Leaders meeting which is a photo-opportunity! A good look at growth (or lack thereof!) from Europe and Japan and Retail Sales in the US will all influence markets.

The AUD fell below 1.0300 after the RBA reviewed growth numbers lower although commodity prices inflated the AUD after Chinese Export data confirmed a surge.

The KIWI held 0.8350 reflecting the weakness in the reserve currency rather than any inherent domestic strength

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=106553

8:56 PM Wed 13 Feb 2013GMT


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:

13 Feb 2013  Collinson FX Market Commentary: February 13, 2013 - Markets rebound
12 Feb 2013  Collinson FX Market Commentary: February 12, 2013 - Euros gather
11 Feb 2013  Collinson FX Market Commentary: February 11, 2013 - Agree to cut
09 Feb 2013  Collinson FX Market Commentary: February 8, 2013 - Jawboning the Euro
07 Feb 2013  Collinson FX Market Commentary: February 7, 2013 - European Bulls
05 Feb 2013  Collinson FX Market Commentary: February 5, 2013 - US on post GFC high
01 Feb 2013  Collinson FX Market Commentary: February 1, 2013 - US sobers up
31 Jan 2013  Collinson FX Market Commentary: January 31, 2013 - Cash rate held
30 Jan 2013  Collinson FX Market Commentary: January 30, 2013 - Bull run continues
29 Jan 2013  Collinson FX Market Commentary: January 29, 2013 - Flat Opening
MORE STORIES ...




News - USA and the World





















Express 27 National Championship overall + Video by Erik Simonson, Pressure-Drop.US,














America's Cup: Louis Vuitton Cup's Yves Carcelle dies at 66 *Feature by Richard Gladwell/Sail-World.com/nz,












Audi Melges 20 World Championship - ‘Samba Pa Ti’ crowned champion by International Audi Melges 20 Class Association,










Audi Melges 20 World Championship - Final race to decide champion by International Audi Melges 20 Class Association,










Fort Lauderdale International Boat Show - 13 things to See and do
Ronstan Bridge to Bridge 2014 - Images by Erik Simonson
Volvo Ocean Race: Update from Team Vestas Wind in images
ISAF Sailing World Cup Melbourne - Australian Sailing Team signs up
2014 18' Skiff International Regatta - Day 3
America's Cup: Oracle Team USA sailors place on world regatta circuits
Audi Melges 20 World Championship - Classic Garda conditions on day 2
PWA Alacati World Cup - Intense competition on day 3
America's Cup: 'The Doc' appointed as Commercial Commissioner
Wake Park Triple Crown - Registration open for final stop
Audi Melges 20 World Championship - Day 2 images by Stefano Gattini
Volvo Ocean Race - Two more join Dongfeng Race Team
OHPRI Teen Summer Camps make a splash
East to West: A profile of Volvo Ocean Race crew Team Dongfeng
Extreme Sailing Series - First-ever Turkish team to race in Istanbul
Audi Melges 20 World Championship - Race 4 images by Max Ranchi
New Around Britain and Ireland Monohull 40ft and less world record
Detroit Cup - Fifth place finish a difficult result for Neptune Racing
Audi Melges 20 World Championship - Alessandro Rombelli's 'STIG' leads
Volvo Ocean Race: Call of Duty comes first for Team Alvimedica
Audi Melges 20 World Championship - Day 1 images by Stefano Gattini   
Helping boaters understand weather basics   
PWA Alacati World Cup - Exciting finish on day 2   
Match 40s find the surface again + Video   
Audi Melges 20 World Championship - Day 1 images by Max Ranchi   
Clagett Regatta names first Executive Director   
Transatlantic Race - Fleet expanded for 2015 edition   
IFDS World Championship overall   
Anna Tunnicliffe: Alinghi finishes second - Extreme Sailing Series   
2014 18' Skiff International Regatta - Day 2   
2014 Audi Melges 20 World Championship - It's go time in Garda   
2nd Annual Keith Dinsmoor Regatta September 13-14   
Aldo Alessio Regatta - Three days of tight racing   
PWA Alacati World Cup - First blood to Van Der Steen and Offringa   
Oakcliff Sailing hosts the Nacra 17, 49er and 49erFX Nationals + Video   
International 18ft Skiff Regatta underway on San Francisco Bay   
Maxi Yacht Rolex Cup 2014 - Quality fleet for Maxi Classic   
Sailing Champions League - which is Europe's best sailing club?   
Weta fun at the Wine & Roses Regatta   
Extreme Sailing Series: The Wave, Muscat claims victory on Cardiff Bay   


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 VIR US
LocalAds   DE  ES  FR  IT