Sail-World.com : Collinson FX Market Commentary: March 18, 2013 - Massive Bull run
Collinson FX Market Commentary: March 18, 2013 - Massive Bull run
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Collinson FX market Commentary: March 18, 2013
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Consumer sentiment brought the market back to earth as the unprecedented rally came to a close. It appears traders on Wall Street are far more confident than the US Consumer. Sentiment fell to 71.8 from 77.6 with the impact of rising payroll taxes and increasing discovery on Obamacare costs.
The almighty consumer is the major driver of the US domestic markets and thus the economy.The Dollar suffered accordingly pushing the EUR to 1.3050 and the GBP approaching 1.5100. The massive Bull run may continue to unfold in the coming week sailing into uncharted waters with only technical chart levels to target. This week will focus on the Fed and the plethora of economic releases lead by the Housing Statistics. The RBA will meet, but expectations for any action are low with the currency flying high testing above 1.0350.
The KIWI also regained 0.8245 after a week of hits emanating from the RBNZ releases earlier in the week. We have seen some earlier downward movement in the NZD & AUD rates this am with the Euro being sold off as the news of the Cyprus banks' bailouts surface.
A look at NZ GDP will be a good guide to the state of the economy but expectations should not be high.
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
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10:07 AM Mon 18 Mar 2013GMT
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