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

Sail-World is now running live in the changed website format. If you are running on a Mac with iOS please scroll to the bottom of the site and check that your region is set for your region and not some other. It can be correctly set up using the drop down boxes. Then go to the top, click refresh, and you should be away. ... [more]  

Rolex Sydney Hobart: Wild Oats XI and Comanche Finish Images *Feature by Crosbie Lorimer, Hobart, Tasmania
The Comanche and Wild Oats XI teams were equally gracious in victory and defeat on the dockside in Hobart today. It had been a close fought battle and while Comanche had reeled Wild Oats XI back in overnight to within 9nm , there simply wasn't enough air to power up the American boat in the run across Storm Bay and up the Derwent River. ... [more]  

Rolex Sydney Hobart Yacht Race 2014: In what skipper Mark Richards described as the crew’s most hard-fought line honours triumph, Wild Oats XI held off the impressive challenge posed by Comanche, the newly-launched entry from the United States. Completing the race in 2 days, 2 hours, 3 minutes and 26 seconds, Wild Oats XI finished eight hours shy of the race record she set in 2012. ... [more]  

After being dismasted a short time ago in the Rolex Sydney Hobart, Giacomo is motoring to the lee of Maria Island. In other race news, a very disappointed Bill Wild has retired his Reichel/Pugh 55, Wedgetail, from the race after suffering mast damage in the Cruising Yacht Club of Australia’s 628 nautical mile race at approximately 7.40pm off Schouten Island. All are safe and well on board. ... [more]  

Rolex Sydney Hobart Yacht Race 2014: Spithill was one of six helmsmen on Comanche. 'We can’t leave it at that,' he declared after finishing in Hobart. He says that on his watch this morning the boat reached a top speed of 32 knots and knows what she is capable of. 'Everybody got to see the true potential of this boat at the start. ... [more]  

Top international yachting photographer, Carlo Borlenghi was in the air above the Rolex Sydney Hobart Race fleet and provided these images of the third day of racing in the classic ocean race, as the leaders closed in on the finish, and the dock celebrations by Wild Oats XI. ... [more]  

Rolex Sydney Hobart Yacht Race - 'This is the sweetest victory by far,' Wild Oats XI skipper Mark Richards declared today after steering the silver-grey thoroughbred to a record eighth line honours victory in the Rolex Sydney Hobart. 'To rewrite a bit of sailing history doesn’t come along every day. To win a Hobart is a great honour but to win an eighth; I can’t believe I am here,' Richards said. ... [more]  

Photographer Andrea Francolini was on the water at 2014 Rolex Sydney Hobart Yacht Race line honours finish and provided this gallery of images. ... [more]  

Wild Oats XI entered the Derwent River some forty minutes ahead of Comanche at the Iron Pot and gybed her way up river in 5-10 knot southeaster, bright sunshine and crystal clear light to take a record breaking eighth line honours win in this race at 3.03pm The size of spectator fleet that accompanied Wild Oats XI and the crowds on the dock were much the largest ever sen for this race. ... [more]  

The Volvo 70 Giacomo has lost her rig in the vicinity of Maria Island. A second yacht Wedgetail (an RP55) lost the top off her mast in the same area at the same time. Giacomo is a Volvo 70 owned and skippered by Jim Delegat (NZL) and has a full New Zealand crew aboard ... [more]  

Rolex Sydney Hobart Wild Oats XI takes number eight by Rob Kothe and the Sail-World Team
Wild Oats XI finished at 303pm, with her big A2 flying. Her elapsed time was two days two hours three minutes and twenty six seconds 02:02:03:26 That was some eight hours outside the race record she set in 2012 of 1 day, 18 hours, 23 minutes and 12 seconds. ... [more]  

At the 2014 Rolex Sydney Hobart Yacht Race photographer Daniel Forster was on the water and provided this gallery of images from Day 2. ... [more]  

Rolex Sydney Hobart: Wild Oats XI scores comfortable 8th win by Richard Gladwell, Sail-World.com/nz
Wild Oats XI (Oatley family) has crossed the finish line for the Rolex Sydney Hobart race to take her eighth win in the offshore classic. She crossed the finish line in the Derwent River sailing on port tack with a big asymmetrical headsail flying, and accompanied by a bevy of spectator craft as she crossed the finish line at 3.00pm local time. ... [more]  

In Alamitos Bay Yacht Club's annual Boxing Day race the hometown Gibbs brothers, Riley, 18, and Sawyer, 16, started last in their 49er skiff but passed all of the other boats of various types to finish first in brilliant sun but cool light air Sunday. ... [more]  

2014 Rolex Sydney Hobart Yacht Race - Wild Oats XI is still leading the 2014 Rolex Sydney Hobart, some 38-nm from Hobart, and hoping to close in on a record eighth line honours win. ... [more]  

2014 Rolex Sydney Hobart Yacht Race - The crew on the American super maxi Comanche have not thrown in the towel. They do not believe the race for line honours in the Rolex Sydney Hobart is over despite Wild Oats XI’s commanding lead. ... [more]  

2014 Rolex Sydney Hobart Yacht Race - Bob Oatley’s 10 year-old super maxi Wild Oats XI is racing towards an historic eighth line honours victory in the Rolex Sydney Hobart this morning. ... [more]  

Rolex Sydney Hobart: Wild Oats rounds Tasman Island by Richard Gladwell, Sail-World.com/nz
Seven time race winner, Wild Oats XI (Oatley family) looks set to take her eighth win, after rounding Tasman Island just before noon, local time. The supermaxi rounded the landmark with a ten mile lead over the US supermaxi Comanche and has about 35nm to sail in a direct line to the finish line off Hobart. ... [more]  

With the front runners in the Rolex Sydney Hobart expected to sneak through in light to moderate tail winds, the weather prognosis for the remainder of the fleet is, well, interesting. The simple analysis is that fresh northerly winds will give the fleet a fast ride on Sunday and during the daylight hours of Monday. ... [more]  

Wild Oats XI (Oatley family) is expected to cross the finish line, around 4pm on Sunday and take her eighth line honours win. The race leaders are making good time down the coast of Tasmania, and at daybreak had approximately 100nm to sail. ... [more]  

Sydney to Hobart - Another 40 foot white-wash? by Rob Kothe and the Sail-World team
With the Supermaxi battle probably all over in this 70th Rolex Sydney to Hobart race, unless Wild Oats XI drops her rig in the next five hours, she is set to take her eighth line honours victory so at last the attention will shift to the real race, the battle for handicap honours. ... [more]  

Rolex Sydney Hobart: Your Turn, Then My Turn, Then Your Turn! *Feature by Crosbie Lorimer, Hobart, Tasmania
With the front runners over halfway to Hobart, this year’s race is turning out to be quite a page turner already; and that’s just the big boats. So let’s start with them. Wind back to the start, first honours to Comanche in the shoot out to the first mark. To be fair it was akin to pitting a brand new Bugatti Veyron against some classy and quick Ferraris and Porsches. The result in those ... [more]  

There is absolutely no way anyone can predict these before the vast majority of the still 109 vessels racing actually get home to Hobart Town. One can, however, talk about the very things that do go into making these results that so many chase and to do so, we have to work through a myriad of vessel designs, ages and types. ... [more]  

Rolex Sydney Hobart 2014; Handicap Honours Predictions VIDEO *Feature by Dale Lorimer, Hobart, Tasmania
Given the weather models for the race, Crosbie Lorimer did the rounds of the CYCA dock just prior to the start of the race to find out who the various skippers, navigators and tacticians believed might take out the overall Handicap win on IRC. Here are some of their predictions, how they are panning out for some and an update on the position at the front of the fleet. ... [more]  

Sydney Hobart 2014: A ridge too far for Comanche by Bruce Montgomery, RSHYR Media
2014 Rolex Sydney Hobart Yacht Race - That’s the conclusion that one might well draw from the huge difference in the performance of the Hamilton Island super maxi Wild Oats XI and her main challenger, the US boat Comanche. ... [more]  

Photographer Daniel Forster was in the air again for the Sydney Hobart 2014, and provided this gallery of images. ... [more]  

2014 Rolex Sydney Hobart Yacht Race - The chase for line honours at the 2014 Rolex Sydney Hobart Yacht Race is intensifying with the leading boats approaching the halfway mark of the 628-nm race. ... [more]  

By Grand Prix ocean racing standards she’s an old girl, and there’s no denying she’s had a few makeovers during the past decade, but Bob Oatley’s 30-metre long supermaxi, Wild Oats XI, was leaving no doubt today that when it came to speed she’s still got great legs. ... [more]  

2014 Rolex Sydney Hobart Yacht Race - After 24 hours the Hamilton Island supermaxi Wild Oats XI has taken the lead for the first time in the Rolex Sydney Hobart Yacht Race, the 70th sailing of the event. ... [more]  

Photographer Howard Wright was on the water at the start of the 2014 Rolex Sydney Hobart Yacht Race, and provided this gallery of images. ... [more]  

Looking back it is not so long ago that sailors making long trips had to make the key choice between light weight and taste. But now, thankfully, technology and demand means that there is more and better choice in freeze dried foods. But the lack of fresh food and the limited choice of diet does mean eating remains a chore, part of the daily routine during the three months ... [more]  

2015 Fireball World Championship - The event offers two weeks of unrivalled sailing in the beautiful waters of North Wales. Situated on the Llyn peninsular, just 10 miles from the Snowdonia National Park, racing will take place in Cardigan Bay within easy reach of the sandy beach from where the fleet will launch. ... [more]  

Rolex Sydney Hobart: Supermaxi Race Start VIDEO *Feature by Dale Lorimer, Sydney
The start of the Sydney to Hobart Yacht Race saw the five 100 foot super maxis up against each other for the first time. ... [more]  

Rolex Sydney Hobart: Perpetual Loyal forced to retire with hull damage *Feature
2014 Rolex Sydney Hobart: Clouds backs the small boats for overall win
Rolex Sydney to Hobart: Replay video coverage on Sail-World *Feature
Sydney Hobart - Comanche leads but Oats XI keeps the rubber band on
Will Comanche take a scalp?
Rolex Sydney Hobart Yacht Race 2014- Southerly takes its toll
Rolex Sydney Hobart: Comanche leads in softening morning breeze *Feature
Rolex Sydney Hobart - Comanche take a gun to the knife fight + Video
Rolex Sydney Hobart Yacht Race 2014 - Supermaxi contest + Video
Rolex Sydney Hobart: Images from the flying start on Sydney harbour
Rolex Sydney Hobart Yacht Race 2014: Start photos by Andrea Francolini
Sydney Hobart 2014 The Cutting edge Formula 1 yacht still leads
Rolex Sydney Hobart Yacht Race 2014 – Grand dame heads back to Sydney
Rolex Sydney Hobart Yacht Race - Day 1 start images by Carlo Borlenghi
Rolex Sydney Hobart: Race Start Images by Crosbie Lorimer *Feature
Clipper Ventures 10 starts Rolex Sydney Hobart Yacht Race
Rolex Sydney Hobart Yacht Race - Another year another record
Rolex Sydney Hobart 2014 – Comanche on the warpath
2014 Rolex Sydney Hobart - Spithill to grind on Comanche
Rolex Sydney Hobart Yacht Race – Spinnaker start forecast
Rolex Sydney Hobart Yacht Race - Wild Oats XI ready to go   
Adventures of a Sailor Girl: Hobart coverage - December 26 - Live   
Rolex Sydney Hobart - The Peyron Perspective -Old People On New Boats *Feature   
2014 Rolex Sydney Hobart - Spithill to grind on Comanche   
Rolex Sydney Hobart; Wild Oats XI trials Goose for Christmas   
Rolex Sydney Hobart Yacht Race 2014 - The Weather Gate *Feature   
For Christmas a Shiny new Sail-World.com *Feature   
Sydney-Hobart: Wacky Races 3 – Gravel and Red Max versus VMG *Feature   
Yankees at the Gate - A pre Sydney-Hobart conversation with Ken Read *Feature   
Rolex Sydney Hobart: Line Honours Skippers Press Conference - Video   
Barcelona World Race 2014-15 -A different Christmas   
Volvo Ocean Race: Team Vestas Wind recovery video *Feature   
Rolex Sydney Hobart Yacht Race 2014 - Another great journey south   
Sydney Hobart - Ragamuffin's David Witt explains deck failure + Video   
Wild Oats XI - Damage drama in lead-up to Sydney Hobart Race   
Rolex Sydney Hobart Yacht Race images by Photographer Carlo Borlenghi   
Five faces behind the 100ft super maxis by Andrea Francolini   
2014 Rolex Sydney Hobart Yacht Race - Everyone's in with a chance   
Comanche Designers talk before Sydney Hobart   
Olympic Sailing Waters - Rio de Janeiro   


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