sail-world.com
 
 
News Home Cruising Photo Gallery Video Gallery
Sail-World.com : Collinson FX Market Commentary: May10, 2013 - USD on the rise
Collinson FX Market Commentary: May10, 2013 - USD on the rise


'Mulithull start-220313 (41) - 2013 Auckland Cup, Day 2'    Richard Gladwell ©    Click Here to view large photo

Collinson FX market Commentary: May 10, 2013

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

Monetary Policy continues to dominate markets with Central Banks exerting complete control over a Fiscally incompetent elected Governments. The Bank of England left Rates unchanged but maintained the current stimulus. The British Central bank is boxed in with rising inflation and economic threats across the board.

The US Equity markets continued to rally to new record highs fueled by Bernanke. The party continues and the bubble stretches into May. The confidence spread to the Dollar with the Yen breaking 100 for the first time in four years. The EUR also slipped back to 1.3080 and the GBP to 1.5475. Jobless claims fell as the trend slowly improves.

In NZ, Unemployment surprised many, when the rate plunged from 6.8% to 6.2% boosting the KIWI back to 0.8440. The rise of the USD overnight pushed the NZD back under 0.8400. Australian Unemployment also fell having the same effect on the currency which also unwound with the resurgence of the 'Big Dollar'!

The AUD now trades at a recent low around 1.0080 and may challenge parity as economic conditions deteriorate with a dramatic budget expected next week in the lead up to Septembers election.

Central Bank action should be a sign of the desperate state of economies as emergency interest rate levels are just that. Any sign of further deterioration may overwhelm the liquidity flood currently supporting equities and commodities.

AucklandCupDay2-220313 (44) - 2013 Auckland Cup, Day 2 -  Richard Gladwell_©   Click Here to view large photo

Collinson FX market Commentary: May 9, 2013
Monetary Policy continues to dominate markets with Central Banks exerting complete control over a Fiscally incompetent elected Governments. The Bank of England left Rates unchaged but maintained the current stimulus. The British Central bank is boxed in with rising inflation and threat across the board.

The US Equity markets continued to rally to new record highs fueled by Bernanke. The party continues and the bubble stretches into May. The confidence spread to the Dollar with the Yen breaking 100 for the first time in four years. The EUR also slipped back to 1.3080 and the GBP to 1.5475. Jobless claims fell as the trend slowly improves.

In NZ, Unemployment surprised many when the rate plunged from 6.8% to 6.2% which boosted the KIWI back to 0.8460 but the rise of the USD overnight pushed the NZD back under 0.8400. Australian Unemployment also fell having the same effect on the currency which also unwound with the resurgence of the 'Big Dollar'!

The AUD now trades at a recent low around 1.0100 and may challenge parity as economic conditions deteriorate with a dramatic budget expected next week in the lead up to Septembers election. Central Bank action should be a sign of the desperate state of economies as emergency interest rate levels are just that.

Any sign of further deterioration may overwhelm the liquidity flood currently supporting equities and commodities.

Multihull start - 2013 Auckland Cup, Day 2 -  Richard Gladwell_©   Click Here to view large photo

Collinson FX market Commentary: May 8, 2013
The RBA joined the 'currency wars' yesterday as they cut rates to the lowest levels since 1959/60. These record lows may not be the end, as the powder remains dry, and the Governor remains ready and able to cut further. The economy is showing signs of distress as the Australian position has deteriorated in the last year after surviving the GFC relatively well.

The strong Fiscal and Monetary position the economy was in prior to the GFC had allowed the Ozzies to weather the storm but the Global paradigm has changed and the Labor Socialist Government have carried Keynsian theory a bit too far. The have stretched the tenure of stimulus beyond comprehension.

They have borrowed to replace revenue (but never lost the revenue) and have exhausted the all reserves and piled up a AUD$300 Billion debt! When your revenues continue to increase but your expenditures exceedRBA cuts to lowest x these, then fiscal incompetence is to blame. The RBA has acted to counter the 'currency wars' with the AUD stubbornly holding above parity for an extended period destroying trade competitiveness.

The Fed has added $2.3 Trillion to the Balance sheet since 2008 and the ECB have similar excess. The BoJ had recently joined the party and the RBA had had enough. Ironically the poor economic conditions, that have triggered these actions, have been the cause of bubbles with no better example than world equity markets. The DOW has now blasted through the 15,000 mark and with $85 Billion added every month by the Fed, liquidity is the problem!

The EUR hit 1.3080 as the GBP slipped below 1.5500. The Big Dollar is being fundamentally undermined by Bernanke, thus the impact of the RBA's 0.25% cut was minimal, falling to 1.0175. The KIWI was dragged back under the 0.8500 mark. It is very difficult to fight against Central Banks and bubbles created will cause much greater problems anon!

Keelboat start- 2013 Auckland Cup, Day 2 -  Richard Gladwell_©   Click Here to view large photo

Collinson FX market Commentary: May 7, 2013

Equity markets were steady after the substantial gains of last week boosted by an ECB rate cut and a better than expected Non-Farm Payrolls. European markets absorbed steady PMI numbers but falling ECB Retail Sales.

The endless recession spurred Draghi back to the microphone where he promised to take whatever action necessary to right the ship.

The immediate impact was felt in the currency with the EUR falling back to 1.3075. The US markets were steady with the DOW hitting 15,000 on Friday but failing to hold and has now set a benchmark. There was little local news but plenty to come, plus add in the developing situation spreading war across the Middle East! The AUD slipped lower to 1.0250 in preparation for an expected cut from the RBA this week.

Australian Retail Sales contracted and Job Advertisements also fell 1.3%. Economic fundamentals have been deteriorating in Australia for some time and now they are amidst the 'longest election campaign in History', expect unprecedented volitility.

The KIWI held 0.8500 and continues to book gains against its trans-Tasman cousin. Testing times on the Geo-Political front with economic fundamentals hardly inspirational.

Elliott 5.9 - 2013 Auckland Cup, Day 2 -  Richard Gladwell_©   Click Here to view large photo

Collinson FX market Commentary: May 6, 2013
Non-Farm Payrolls came in better than expected fueling the rally in equities. The Dow has now toyed with the 15,000 level and the endless rally continues with no likelihood of Bernanke turning off the liquidity taps. This boosted the EUR which moved back to 1.3115 and the GBP to 1.5565.

Risk appetite continues to flourish boosting associated higher yielding currencies. The AUD breached 1.0300 and the KIWI moved over 0.8500 once again. The rally has been sustained by concerted Central Bank intervention and seems likely to continue until fundamentals tip the balance and cause reality to crash the party. Non-Farm Payrolls gained 165,000 with Unemployment falling to 7.5%.

The good news supported the markets despite Factory Orders falling 4%.

The new week will bring more economic data analysis and perhaps consideration of an interest rate cut in Australia. This is May!?

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=109338

12:00 PM Fri 10 May 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:

09 May 2013  Collinson FX Market Commentary: May 9, 2013 - Oz down KIWI up
08 May 2013  Collinson FX Market Commentary: May 8, 2013 - RBA cuts to 1959/60 rate
07 May 2013  Collinson FX Market Commentary: May 7, 2013 - KIWI catching up
06 May 2013  Collinson FX Market Commentary: May 6, 2013 - Oz interest rate cut?
03 May 2013  Collinson FX Market Commentary: May 3, 2013 - Bulls on the handlebars
02 May 2013  Collinson FX Market Commentary: May 2, 2013 - Unimpressive largesse
01 May 2013  Collinson FX Market Commentary: May 1, 2013 - KIWI in for a caning?
01 May 2013  Collinson FX Market Commentary: April 30, 2013 - Euro defies gravity
29 Apr 2013  Collinson FX Market Commentary: April 29, 2013 - KIWI market darling
27 Apr 2013  Collinson FX Market Commentary: April 26, 2013 - Poms avoid a bath
MORE STORIES ...




News - USA and the World

The expansion of sailing into so-called developing countries, continues at the ISAF Sailing World Cup, Miami, with Cuba joining the 64 nation line-up encompassing 600 boats. The 2015 fleet on Biscayne Bay is a record turnout, for this second event on the Sailing World Cup Circuit ... [more]  

At exactly 00:01 on the 29th January 2015, TeamVestas?' VO65 left VTE - Voltri Terminal Europa en route to Persico Marine in the foothills of the Italian Alps. The boat is now safely secured in a purpose-built facility near Bergamo, awaiting full assessment and the beginning of the repair process. ... [more]  

ISAF Sailing World Cup Miami Day 3 - There's a world of difference between skiing a long, smooth run and skiing on moguls. Today, forget the waves, it was the breeze on Biscayne Bay that was 'moguls.' Shift upon shift upon shift upon shift. ... [more]  

Ioannis Mitakis (GRE), the 2012 Finn European Champion, ruled the roost in Miami today with two emphatic race wins and moves up to third overall. Giles Scott (GBR) sailed his worst day so far, but still leads with a five point gap on Jake Lilley, and 12 points over Mitakis as the event reaches its half way stage. ... [more]  

The International DN Ice Yacht World and North American Championships are being held in Kingston, Ontario (right in front of our office). For the Kingston Yacht Club, we skated out to the middle of the lake, and put together a little highlight piece for them to remember the event by. ... [more]  

Doyle Sails had more success last weekend in the Auckland Optimist Championships, taking first and second overall in the 110 strong Open fleet. Six countries were represented in the event, and young sailors came the length of New Zealand to compete in the regatta that is a ranking event for World and International team selection. ... [more]  

EFG's Star Winter Series rules in Biscayne Bay by Connie Bischoff, Miami, FL
The third Star Winter Series presented by EFG (SWS) and hosted by Miami’s Biscayne Bay was a shining success. Not only have all five regattas had stronger participation than last year but the final one, the Mid Winters, grew 35% with 45% of the sailors international (CAN, SWE, BRA, UKR, ARG, ITA and GER). ... [more]  

2015 ISAF Sailing World Cup Miami - Day 3 photos provided by Ocean Images. ... [more]  

Day 3 of ISAF Sailing World Cup Miami, Presented by Sunbrella marked the midpoint of North America’s biggest Olympic and Paralympic classes regatta. With bright sunshine and fresh breeze in abundance, the world’s top athletes in 13 classes were treated to the conditions that exemplify why Miami is a preferred international sailing destination. ... [more]  

It was windshift upon windshift upon shift upon windshift on Day 3 of the ISAF World Sailing Cup Miami sailed on Biscayne Bay Presented by Sunbrella, the premier regatta has attracted 599 boats and 768 sailors who were adjusting all day to one thing or another. If it wasn't the wind direction that was changing, it was the wind speed. ... [more]  

Following the success of the Mount Gay Round Barbados Race Series that concluded last week, the dates of next year’s event have been confirmed for 16-24 January 2016. With overseas competitors from 11 nations represented a large part of the 47-strong fleet overall at the 2015 event ... [more]  

Ben Ainslie Racing, the British Challenger for the 35th America's Cup, have shipped two foiling Nacra 20 catamarans to Bermuda and have become the first team to commence sailing operations at the Venue for the next Cup. The team conducted an initial training camp in Bermuda, last week. ... [more]  

North U kicked off its 2015 season of youth match racing clinics around the U.S. with a successful clinic hosted by the Texas Corinthian Yacht Club in Kemah, Texas on Galveston Bay near Houston. Forty high school and college sailors spent two-and-a-half days learning about match racing and training in Sonars on flat water and 6-12 knots of breeze. ... [more]  

A fantastic week of sunshine, warm weather, big breeze and competitive sailing is what sailors were treated to last week in Key West. Several Canadians left the bitter cold of the north to partake in the fun filled week and a few even brought home trophies. Here's a peek at the fun in the sun! ... [more]  

At ISAF Sailing World Cup Miami, presented by Sunbrella, if the Chamber of Commerce had stayed up all night working at it, they could not have served up a better day for racing. ... [more]  

On day 2 of ISAF Sailing World Cup Miami, Presented by Sunbrella, the rainstorms of yesterday vanished but the excellent wind conditions remained in place on Biscayne Bay. A more conventional day of racing saw US Sailing Team Sperry athletes finish the day in the top 10 in 5 Olympic classes and 2 Paralympic classes. ... [more]  

Bringing Dragon Sailors from around the world to Antigua. Harmony Hall Yacht Club, with the support of the Antigua Yacht Club Marina and the Inn at English Harbour, will host the second Annual Antigua Dragon Yacht Club Challenge with nine races scheduled to take place over five days in fantastic Caribbean conditions on identical Petticrow Dragons. ... [more]  

There are so many ways that the Dongfeng Race Team could have lost the chance to win the light-air marathon from Abu Dhabi to Sanya in China. Leading from the first 24 hours to the finish, 23 and a half days later, 5,403 nautical miles sailed and eight different gulfs, oceans and seas, is not necessarily the most advisable way to try and take the spoils. ... [more]  

Sydney photographer, Michael Chittenden was on Sydney harbour last Sunday and captured these images from Race 4 of the NSW 18ft Skiff Championships ... [more]  

New Zealand short-handed sailor, Conrad Colman is on his second two handed round the world race, this time aboard the Spirit of Hungary with Nandor Fa sailing in the Barcelona Round the World Race: I had noticed a couple of chafing zones on the mainsail so I prepared some patches and the Dr. Sails flexible epoxy glue so we could drop the main quickly ... [more]  

2015 ISAF Sailing World Cup Miami- Photos provided by Ocean Images. ... [more]  

Photographer Ingrid Abery was on the water at 2015 ISAF Sailing World Cup Miami and provided this gallery of images. ... [more]  

2015 ISAF Sailing World Cup Miami - It may have been a day late for Australia Day, but on the second day at the Sailing World Cup Miami, the Australian Finn sailors were on a charge with some sparkling performances. Giles Scott (GBR) still leads after winning the opening race of the day, while Jake Lilley (AUS) won the second and moved up to second overall. Ed Wright (GBR) is in third. ... [more]  

2015 Pineapple Cup – Montego Bay Race is set to begin Friday, February 6. The 32nd edition of the venerable Pineapple Cup – Montego Bay Race will start in Port Everglades, Florida, and send its 12-boat fleet on a challenging 811 nautical mile course to Montego Bay, Jamaica. George Sakellaris’s (Framingham, Mass.) 72-foot Shockwave will be the largest boat competing, so it should be interesting to ... [more]  

VX One momentum is growing with ever larger fleets showing the pure fun and easy performance of this true thoroughbred one design. ... [more]  

Last Friday, former Oracle Team USA team member, Matthew Mitchell issued a media release stating that he has lodged a complaint with the International Sailing Federation over the actions of a fellow crew member, Simeon Tienpont, and inaction by the International Jury for the 34th America's Cup, in San Francisco. ... [more]  

Volvo Ocean Race: A warm and colorful welcome for Team SCA into Sanya by Richard Gladwell/Sail-World.com NZL, Auckland, NZ
The all-female crew, Team SCA, arrived to a warm and colorful welcome including fireworks, Chinese dragons, orchid garlands and traditional costumes into the city of Sanya on Hainan Island in southern China early Tuesday evening (local time). 'It was a really different leg. I wouldn’t say it was hard in terms of the physical side but it just had lots of things coming at all angles ... [more]  

Touch2Play had the great fortune of participating in what would be the largest yet gathering of J88’s to date. Quantum Key West Race Week would serve as a chance to see how boats lined up against one another in conditions that covered the full range. For this event we had Rob and Sandy Butler, Steve Leibel, Keven Piper, Coleen Walsh and myself, Larry Huibers. ... [more]  

As the Barcelona World Race leaders race to the Crozet Islands, once again their paths have diverged – Neutrogena around 200 miles to the south-west of first-placed Cheminées Poujoulat on the water, and gaining around 40 miles in the past 24 hours. ... [more]  

For the Tokyo 2020 Paralympic Games the International Paralympic Committee (IPC) will announce on Saturday (31 January) at 10:00 CET the final line-up of sports. ... [more]  

On a high octane first day of the ISAF Sailing World Cup Miami on Monday (26 January) Giles Scott, Alison Young and the Paralympian Sonar trio of John Robertson, Hannah Stodel and Steve Thomas saw the best possible start to their 2015 sailing seasons with double race victories. ... [more]  

On the opening day of racing at ISAF Sailing World Cup Miami, presented by Sunbrella, it was sunny and bright. It was storming and raining sideways. It was sunny and bright. ... [more]  

On the opening day of racing at ISAF Sailing World Cup Miami, presented by Sunbrella, it was sunny and bright. It was storming and raining sideways. It was sunny and bright. ... [more]  

RC44 World Championship Leg 1 - RC44 Valletta Cup preview
ISAF Sailing World Cup Miami - US Sailing Team Day 1
ISAF Sailing World Cup Miami -Finn class -testing conditions on Day 1
ISAF Olympic classes regatta Miami 2015 images by Ingrid Abery
Volvo Ocean Race: Team Alvimedica wins first podium place in Sanya
Volvo Ocean Race: Dongfeng scores historic victory for China
Volvo Ocean Race: Dongfeng release first DroneCam video from Leg 3
Volvo Ocean Race: Chinese team set historic first with home port win
Volvo Ocean Race: Team Vestas Wind arrives on time in Genoa + Video
America's Cup - Virgin considers backing Ben Ainslie, BAR
Bell's Beer Bayview Mackinac Race - Changes
Alpari World Match Racing Tour - Monsoon Cup preview
Barcelona World Race - A game of chase
Quantum Key West Race Week: Four GC32's make spectacular USA debut
Volvo Ocean Race – Frostad says Caudrelier proving them wrong *Feature
Volvo Ocean Race - Last day drag race to Sanya
Volvo Ocean Race Leg 3 - Tense onboard Abu Dhabi Ocean Racing
Volvo Ocean Race Leg 3 - Dongfeng Race Team pushing hard!
Volvo Ocean Race: Leg 3 Finish - Video - Delayed feed
2015 ISAF Sailing World Cup Miami - Countdown begins
Volvo Ocean Race: Donfeng set to create a piece of sailing history   
Barcelona World Race - First of the iconic Great Capes has been passed   
Classic 18fters racing on Sydney Harbour   
Volvo Ocean Race - Can Dongfeng still hang on for a Sanya win??   
Stephanie Roble, 2014 Rolex Yachtswoman of the Year   
Barcelona World Race - Taking advantage   
Oakcliff Awarded Joe Prosser Award at US Sailing NSPS 2015   
20 Nations head for 2015 St.Maarten Heineken Regatta   
Volvo Ocean Race - Less than 500 miles to go   
2015 Quantum Key West Race Week - Fantastic finish   
Barcelona World Race: Weather beacons launched midrace   
2015 Quantum Key West Race Week - Day 5   
Mount Gay Round Barbados Race – Gala prizegiving marks end of event   
2015 Quantum Key West Race Week - Day 5 images by Ingrid Abery   
Volvo Ocean Race Leader - Dongfeng - the right place at the right time   
ISAF Youth Match Racing World Championship - Notice Of Race online   
Volvo Ocean Race: Changes to Team Vestas Wind crew   
McDougall+McConaghy Moth Worlds: Highlight video released   
America's Cup: Oracle crew mate lodges complaint against Tienpont   
2015 Quantum Key West Race Week - Day 4 images by Ingrid Abery   


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 WAS US
LocalAds   DE  ES  FR  IT