sail-world.com
 
 
News Home Cruising Photo Gallery Video Gallery
Sail-World.com : Collinson FX Market Commentary: February 15, 2013 - Frightened Bulls
Collinson FX Market Commentary: February 15, 2013 - Frightened Bulls


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

Collinson FX market Commentary: February 15, 2013

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

Equity markets remained in flux after the economic news from Europe put the frighteners on the bulls. German and French exports fell in the last quarter as the currency wars started to impact any seeds of the economic recovery. EU GDP contracted 0.9% with Germany, France and Italy all falling dragging the recession deeper in to the mire.

The 'Currency Wars' are starting to impact the Export driven recovery and the unstable nature of currencies have reduced certainty and thus planning. Central Banks have only themselves to blame in a cynical game of hypocrisy driving all free markets in to turmoil. This has massively impacted the trading nations and especially non-interventionist such as NZ and Australia (easing but not on the epic proportions of BoJ,ECB and the Fed!).

The deeper recession is bad news for all economies as global demand weakens hitting Chinese manufacturers and associated commodity suppliers. The EUR fell back to 1.3333 and the GBP to 1.5480. Buffett and 3G announced the takeover of iconic Heinz and US Airways merger created the worlds largest airline but these activities were overshadowed by EU news.

The Japanese economy also contracted 0.1% contradicting recent bullish sentiment and other Asian markets will also fell the effects. The AUD remained high overnight trading 1.0370 after some positive Consumer Confidence data released locally and the KIWI booked gains around 0.8480 overnight. European demand is huge for China so this will flow through to the ANZACs. Gloomy horizons, but this is historical data!?!

Collinson FX market Commentary: February 14, 2013

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=106600

11:17 AM Fri 15 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:

14 Feb 2013  Collinson FX Market Commentary: February 14, 2013 - State of the Union
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
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