sail-world.com
 
 
News Home Cruising Photo Gallery Video Gallery
Sail-World.com : Collinson FX Market Commentary: November 15, 2012 - Economic revolt
Collinson FX Market Commentary: November 15, 2012 - Economic revolt

'Image of the Day Veloce had its first outing in the Club Marine Series this season. - Club Marine Series 2012/2013, Melbourne, Australia'    Teri Dodds ©

Collinson FX market Commentary: November 15, 2012

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

The world is in turmoil with the middle east on fire, Europe mired in anti-austerity riots and the US struggling with economic revolt. European riots spread across Europe including Greece, Spain, Italy and Portugal emanating directly from the austerity measures imposed to avoid economic collapse.

The crisis is spiralling out of control with protests moving to France and Belgium. The continued budget deficits add further to the crippling debt and the printing of more EURO's will not solve the fundamantal problem. Live within your means is a novel concept. The other major problem is the disfunctional single currency which is under real threat.

The GBP fell to 1.5850 after the Bank of England released minutes citing the rising inflation and the EU impacting growth which may require further QE undermining the currency. In the US Retail Sales fell and as the Fiscal Cliff approaches and it is likely economic indicators will continue to confirm deterioration. The result of the fiscal cliff will throw the US back in to recession dragging the global economy with it. Obama will raise taxes and cut defence and the economy will suffer.

Make no mistake, the Americans face an economic crises which this administration is incapable of solving.

The global situation directly impacts growth and demand which directly effects China and thus commodity prices. The AUD fell back to 1.0380 and the KIWI 0.8115.

This is likely to continue and when Central Banks realise the need to match the Fed, ECB and BofE the rate cuts will add further downside pressure.

Image of the Day Vendee Globe - Macif - Francois Gabart (FRA) -  Jean-Marie Liot - DPPI_- Vendée Globe ©   Click Here to view large photo

Collinson FX market Commentary: November 14, 2012

Markets were steady overnight with European equities rising and Bond Yields slipping reflecting a reprieve for Greece. EU Finance Ministers agreed to extend budgetry requirements for Greek austerity measures out to 2016. The waver allows Greece to continue to add to the already overwhelming debt by running budget deficits until 2016 when they will limit this to 2% of GDP.

They also agreed to defer the next bailout tranche predictably kicking the proverbial can down the road. UK Inflation crept up to 2.7%, despite the weak state of the economy, which must be unsettling for Central Bankers as the sleeping giant could well bring all the chickens home! The GBP remained weak at 1.5875 and the EUR tests 1.2700. The strong Chinese economic data has given new legs to the AUD which trades 1.0425 and the KIWI approaching 0.8200.

The risk sentiment will again be tested as the EU debt crises rolls on and the US Fiscal Cliff negotiations drag on. Obama has never lead on Economic policy and defers to Congress who are divided. To avoid the fiscal cliff and certain recession is a supposed priority but precedence points to brinksmanship until the deadline and then inaction and deferment.

Democrats would not be unhappy seeing tax rises and cuts to the military so Republicans should stand aside and let the lunatics run the asylum as the people advocated last week. Democrats have not passed a budget in more than three years and the plan is to have no plan. This is similar to European Politicians and should result in a disaster for the global economy.

Images of the Day Saveol - skipper sam Davies (GBR) -  Jean-Marie Liot - DPPI_- Vendée Globe ©   Click Here to view large photo

Collinson FX market Commentary: November 13, 2012
Veterans Day in the US means a very light trading day on Wall St and thus globally with little direction.

Markets did earlier focus on extremely positive economic data from China, with the Trade surplus expanding at the best rate in four years. The Trade Surplus accelerated at a very strong pace as exports boomed boosting commodity currencies with the AUD moving up to 1.0415 and the KIWI to 0.8175.

The link with other risk-currencies has been broken with the EUR falling back to 1.2715 and the GBP down to 1.5875. The news from China has been positive but ultimate dependence on the European and US markets has tempered the gains. In Europe the EU Finance Ministers gather this week with approval of the next Greek bail-out tranche on the agenda.

The Troika are reticent to approve this despite the Greeks passage of the new budget over the weekend. The problem is the fiscal deterioration with forecasters predicting Greek debt to rise to more than 190% of GDP! One thing for sure is that this will not end well!

The US meanwhile face the 'fiscal cliff' and the 'debt ceiling' which will inevitably lead to higher taxes no matter what the solution. The solution will definitely negatively impact US (and thus global) growth.

Obama has little grasp on the requirements of the economy and survives on personal popularity. The peoples affection will abandon him when the economy plunges back in to recession in the New Year!

You get what you pay for!

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=103809

11:25 AM Thu 15 Nov 2012GMT


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:

16 Nov 2012  Collinson FX Market Commentary: November 16, 2012 - Billions shed
13 Nov 2012  Collinson FX Market Commentary: November 13, 2012 - Light Veterans Day
11 Nov 2012  Collinson FX Market Commentary: November 9, 2012 - Equities crash
07 Nov 2012  Collinson FX Market Commentary: November 7, 2012 - Equities rally
06 Nov 2012  Collinson FX Market Commentary: November 6, 2012 - Markets go quiet
03 Nov 2012  Collinson FX Market Commentary: November 3, 2012 - Confidence falls
02 Nov 2012  Collinson FX Market Commentary: November 2, 2012 - US strong
01 Nov 2012  Collinson FX Market Commentary: November 1, 2012 - US re-opens thin
31 Oct 2012  Collinson FX Market Commentary: October 31, 2012 - US remains closed
30 Oct 2012  Collinson FX Market Commentary: October 30, 2012 - Sandy shuts US
MORE STORIES ...




News - USA and the World

Volvo Ocean Race: Tropical depression proves to be circuit beaker *Feature by Richard Gladwell, Sail-World.com/nz
The seven strong fleet in the Volvo Ocean Race have been split in two by the effects of a tropical depression over the past 24 hours or so. Having been in close contact for the first week of the race, and covered by about 25nm, the lead group positioned to the east gained a 20nm lead over the three boats positioned to the west, off the coast of Mauritius. ... [more]  

2014 ISAF Sailing World Cup Final - Abu Dhabi - The leaderboards across the ten Olympic and open kiteboarding event at the 2014 ISAF Sailing World Cup Final in Abu Dhabi, UAE are shaping up ahead of the penultimate day of racing. ... [more]  

The ‘Mirabaud Yacht Racing Image 2014’ competition is proving more popular than ever. In just under a month, no less than 50,000 people have visited the event website and viewed 380,000 pages, whilst more than 28,000 people have already voted for their favorite photograph. The social networks have been hugely successful too, with uncountable mentions, ‘shares’ and ‘likes’. ... [more]  

We won’t be able to relax until the end of the leg, it’s the kind of problem that can end our race. Its happened a load of times in offshore racing. ... [more]  

2014 World Yacht Racing Forum - The CEO of Alvimedica will be one of the event speakers alongside Sir Keith Mills, Bertrand Cardis, Bryan Winning, David Brabis, James Dadd, Dobbs Davis, Alistair Fox and many other key personalities from the yacht racing industry. ... [more]  

2014 RORC Transatlantic Race - As predicted, a low pressure system arrived in Lanzarote in the early hours of this morning, bringing strong westerly winds of over 30 knots gusting up to 45 knots. The sea state in the region has been building all day. The forecast for tomorrow morning is much the same, however may abate by the afternoon. ... [more]  

We’re talking, of course, about Johannes Polgar and Markus Koy, who make up one of two German duos in Nassau this year, along with 2014 World Champion Robert Stanjek. Polgar and Koy have been strong sailing partnership for many years now and finished fifth in the 2013 Star Sailors League Final with just Scheidt-Prada, Kusznierewicz-Zycki, Mendelblatt-Fatih and Negri-Lambertenghi in front of them. ... [more]  

Volvo Ocean Race: Heading into a tropical Depression *Feature by Mike Scullin, Predictwind
The weather team at PredictWind have put together this prognosis for the next few days, looking at what lies ahead of the Volvo Ocean Race fleet ... [more]  

Seven Australian Sailing Team and Squad crews are currently competing in five of the Olympic events at Abu Dhabi at the inaugural ISAF Sailing World Cup Final. Next on the AST and Squad’s calendar is the World Cup in Melbourne, December 7-14, 2014. The deadline of Tuesday December 2nd for entries is fast approaching and organiser Yachting Victoria is calling for final registrations. ... [more]  

2014 RORC Transatlantic Race - The inaugural RORC Transatlantic Race, in association with the International Maxi Association (IMA), starts on Saturday 29th November 1200 CET from Lanzarote, Canary Islands bound for Grenada, West Indies, 2,995 nautical miles across the Atlantic Ocean. ... [more]  

ISAF Sailing World Cup Final Abu Dhabi 2014: Smiles were present before racing at the Abu Dhabi Sailing & Yacht Club, on the waters off of the Corniche and around Lulu Island and back ashore upon the conclusion of racing. A north westerly breeze that ranged between 9-14 knots greeted the sailors across the four race tracks. The outside courses saw big waves to add some spice to the sailors’ lives. ... [more]  

Volvo Ocean Race - Team Brunel: Sailing against the wind and ramming into waves is not exactly comfortable. But it can get worse, because right now we are heading straight into a tropical storm. 'Tro-tro-tropical storm?' I stammer in fright to Louis Balcaen. The young Belgian sailor quickly makes it clear that I’m not the only one who is afraid of this particular weather condition. ... [more]  

The Commodore of the San Diego Yacht Club, which has hosted three America's Cups and one America's Cup World Series, appeared on local TV, commenting on the apparent decision to award the 35th America's Cup to British Overseas Territory of Bermuda. In this replay of the video Commodore Chuck Sinks, deftly stays within the confines of not confirming that Bermuda has won the hosting rights. ... [more]  

Overall race leader, Abu Dhabi Ocean Racing has slipped in the Volvo Ocean Race having led for most of Leg 2, and won Leg 1. But as has been done before Abu Dhabi has caught up, and now playing storm-watch. ... [more]  

Mast track issues have dogged the Chinese Volvo Ocean Race entry, Dongfeng Race Team on Leg 2 on the 40,000nm round the world race. The problem is not fully repairable in the current upwind and bumpy conditions, and is certainly an issue of concern for Charles Caudrelier led team. ... [more]  

Volvo Ocean Race: The Traemeister's onboard gym session *Feature by Richard Gladwell/Sail-World.com/nz
On Board Reporter, Brian Carlin, claimed he did not know what a Gym before he set foot aboard Team Vestas Wind. And then compounded his issues by saying that he thought 'Gym' was pronounced 'Gime'. Fitness freak Trae has taken on the invidious task of getting the Irish OBM up to a passable fitness level, believed to be 100 push-ups. ... [more]  

Volvo Ocean Race: Thanksgiving at Sea *Feature by Richard Gladwell/Sail-World.com/nz
Although they may be far from home, old traditions aren't forgotten as the US crew aboard Team Alvimedica celebrate one of the great traditions. And the non-US crew partake of their first Thanksgiving, off the coast of Madagascar. There's some of the traditional fare, adapted for the Volvo Ocean Race, and some messages and mementos from home. ... [more]  

2014 Rolex Sydney Hobart Yacht Race - The official launch of Syd Fischer’s super maxi, Ragamuffin 100, will take place next Tuesday, 2 December 2014, at Sydney City Marine Complex, Rozelle. ... [more]  

The new application from PredictWind for Mac and PC is revolutionary for accessing weather data when offshore. Accessing GRIB files, Weather Routing, GMDSS forecasts and Satellite Imagery is now a simple task with the unique and user friendly interface. ... [more]  

Volvo Ocean Race: Mapfre takes lead in Leg 2 as break point looms *Feature by Richard Gladwell/Sail-World.com/nz
The latest position report from Volvo Ocean Race Control has given the lead in leg 2 of the Volvo Ocean Race to Mapfre (Iker Martinez). She takes over the lead from Abu Dhabi Ocean Racing (Ian Walker), who has led from soon after the start of Leg 2, a week ago. ... [more]  

Over 270 sailors from 38 nations have enjoyed a mixed range of conditions since their arrival early on in the week. The athletes have used the time to acclimatise to their surroundings, different sea states and a variety of wind strengths. But now, the practice time is over with racing across the ten Olympic and open kiteboarding fleets to kick start the inaugural ISAF Sailing World Cup Final. ... [more]  

VOR 2014-15: Some of them also wake up in the middle of the night to check the latest position reports of Team Brunel. The crew is aware of that, including our skipper Bouwe Bekking. 'We are not the only ones looking out for the position reports. We know that the home front is eyeballing every move of us. Our wives, children, girlfriends, friends and supporters live this race as extreme as we.' ... [more]  

ISAF Sailing World Cup Final 2014: Among the ten Olympic series represented, Franck Cammas will be participating in the event for the first time aboard a Nacra 17, this time teaming up with the young, light Alizée Desbordes. Having remained in France to satisfy her professional obligations, Sophie de Turckheim will be following the performance of her favourite helm closely. ... [more]  

ISAF Sailing World Cup Final: Bjorn Allansson (SWE), Briana Provancha (USA), Sofia Bekatorou (GRE), Lara Vadlau (AUT) and Anton Paz (ESP) have fully embraced the Abu Dhabi and Emirati life, grasping the opportunities available with both hands. 'There are so many welcoming and friendly people here,' explained Provancha at the opening press conference. ... [more]  

Leading sailing marine electronics manufacturer B&G has been appointed an Official Race Supplier for the Volvo Ocean Race 2014/15. B&G will also be providing full electronic navigation systems, tactical software and race support to the organisers of the 2014 Volvo Ocean Race, which began on the October 4th in Alicante, Spain. ... [more]  

If you missed this week's edition of Adventures of a Sailor Girl, then hear the replay below. Adventures of a Sailor Girl #31 - Pathways and passion! ... [more]  

Star Sailors League Finals: This Bahaman event is about much more than just sailing, however: it promises a blistering week of high emotion, passion and dazzlingly action that will deliver a unique display of sporting prowess from a slew of champions. All in an easy-to-grasp and see format that even non-sailing folk will understand perfectly. ... [more]  

America's Cup: Sweden to host World Series regatta in 2015 by Richard Gladwell/Sail-World.com/nz
Artemis Racing and the City of Gothenburg are set to host an America’s Cup World Series event during the last weekend of August (28th - 30th) 2015. Racing will take place either on the Gota River close to the city centre, or at Långedrag, and the race village will be located in Frihamnen. ... [more]  

2014 RORC Transatlantic Race - The inaugural RORC Transatlantic Race, in association with the International Maxi Association (IMA), starts on Saturday 29th November from Lanzarote bound for Grenada, 2,995 nautical miles across the Atlantic Ocean. All of the competing yachts are now safely moored in Puerto Calero Marina and last night an informal welcome drinks reception was well received with crew ... [more]  

2014 Chicago Match Cup - At the end of Chicago Match Race Center's sixth season, the numbers show how well CMRC reached both into and beyond the Great Lakes sailing community. CMRC hosted a total of 12 graded events from May to October. Of these, the five Grade Three regattas were the best attended featuring 23 skippers from nine countries. ... [more]  

2014 Extreme Sailing Series - Act 8 - Tom Slingsby, Australian Olympic Laser Gold medalist, and member of Oracle Team USA, has signed up as skipper of Oman Air, one of two Oman Sail Extreme Sailing teams, for the final act of the Extreme Sailing Series in Sydney, Australia (11-14 December). ... [more]  

Volvo Ocean Race: Big spread in fleet as Abu Dhabi leads *Feature by Richard Gladwell, Sail-World.com/nz
Abu Dhabi (Ian Walker) continues to lead the Volvo Ocean Race. She is the most westerly of the fleet as they approach the coast of Madagascar. In a video, Abu Dhabi skipper Ian Walker explains the weather hazards of the second leg of the Volvo Ocean Race. ... [more]  

ISAF Sailing World Cup Final 2014: With a packed crowd of local dignitaries, VIPS and competitors, the ISAF President welcomed the world’s finest Olympic sailors and kiteboarders who will be battling it out on Abu Dhabi's waters. 'It’s a great honour for me to be here today because we have a very important regatta which will be the future of our sport,' explained Croce. ... [more]  

America's Cup World Series: Portsmouth to host in 2015 and 2016
Volvo Ocean Race: Welcome to Brian's Gime *Feature
Volvo Ocean Racing: Abu Dhabi Leg 2 Review and what will win the Race *Feature
Rolex Sydney Hobart Yacht Race 2014 - A new deal for corinthians
2016 Hansa Class Combined World and Int'l Champs held in Netherlands
Turkey Day Regatta - Day 2
St Barth Cata Cup - New winners on the Island
Star Sailors League Final -Interview with Robert Scheidt
USODA 2015 Nationals - Pensacola Yacht Club to host
Sir Robin Knox-Johnston, an inspirational legend
ISAF Sailing World Cup Final: Inspiring the next generation in the UAE
Airwaves Noumea PWA Dream Cup – Albeau completes world title hat-trick
Volvo Ocean Race – Team Alvimedica pushing harder
Volvo Ocean Race – ADOR continues to inspire youth
Volvo Ocean Race – Team SCA’s super fan
ISAF Sailing World Cup Final: Abu Dhabi Sailing Instructions published
ISAF Sailing World Cup Final - Italian 49erFX duo ready for action
St Barth Cata Cup day 3
Volvo Ocean Race: Racing between a Rock and a Hard Place
Volvo Ocean Race - Position report at: 24 Nov 0700 UTC
2014 RC44 Championship Tour trophy – Video highlights   
Volvo Ocean Race - Position report at: 23 Nov 1930 UTC   
Volvo Ocean Race - Position report at: 23 Nov 0748 UTC   
Gladwell's Line: The America's Cup is now Bermuda's Cup? *Feature   
VX ONE Winter Series - Norris and Family earn first weekend victory   
RC44 Oman Cup - Nika wins and Team Aqua clinch their fourth RC44 title   
18ft Skiffs: Club Championship, Cordukes Clubhouse Trophy - Race three   
Volvo Ocean Race: On board with Abu Dhabi - torn sail and where to go? *Feature   
2014 Argo Group Gold Cup - Bermuda shines   
2014 Turkey Day Regatta – Day 1   
Airwaves Noumea PWA Dream Cup - Delphine Cousin officially world champ   
Volvo Ocean Race: A man's got to do what a man's got to do   
RC44 Championship Tour - A great sailing day on the Gulf of Oman   
Sail-World Team holds first Continental Conference at METS   
ISAF Sailing World Cup Final - Open Formula Kiteboarding event preview   
Volvo Ocean Race: Fleet heads into the Southern Ocean + Videos *Feature   
ISAF Sailing World Cup Final - Set to be an 'experience of a lifetime'   
America's Cup: Source named in Bermuda venue leak *Feature   
2014 RC44 Oman Cup - Challenging day + Videos   
Volvo Ocean Race: A bumpy, hard driving ride in the Southern Ocean   


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