sail-world.com
 
 
News Home Cruising Photo Gallery Video Gallery
Sail-World.com : Collinson FX Market Commentary: November 29, 2012 - Market windshifts
Collinson FX Market Commentary: November 29, 2012 - Market windshifts

'Image of the Day Vendee Globe - Macif skipper Francois Gabart (FRA)'    Vincent Curutchet / DPPI / Vendée Globe ©    Click Here to view large photo

Collinson FX market Commentary: November 29, 2012

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

Markets now move depending on the way the wind is blowing in relation to the EU crises and Fiscal Cliff negotiations.
Equities were lower earlier after doubts regarding the Greek solution started to emerge in the media. Reports that Greek debt holders would again be required to take debt write-offs undermining the new deal and future solutions.

The EC look set to provide EUR$40 Billion to bail-out the nationalised Spanish Banks relieving some pressures. Markets turned positive after Obama indicated a deal would be done prior to Christmas to avert the Fiscal Cliff. House Leader Boehner was also in a positive frame of mind with revenue on the table under the proviso of no rate rises. This will probably remain the determinant of market direction until a deal is struck.

New Home Sales in the US fell 0.3% and Weekly Mortgage Applications dropped 0.9% contradicted the Home Price Index numbers yesterday. The Biege Book will be released today and will probably show what it always does. Weak growth and a slow recovery!

The EUR traded 1.2930 and the GBP 1.6000 unchanged as economic news was countered by sentiment.

Commodities remain steady with the AUD 1.0475 and the KIWI 0.8233 as confidence returns and demand rises. Political developments will continue to dominate market direction.

Olympic Flashback Team Jolly blasting to the finish line on the Weymouth Bay course - 2012 Olympic Regatta -  Richard Gladwell_©   Click Here to view large photo

Collinson FX market Commentary: November 28, 2012
Good news from Europe where a deal was reached over the Greek debt crises. No solution but a postponement of the problem allowing the EU time for an economic recovery. The agreement cuts interest rates on outstanding debt, defers payment of said interest payments and extends the maturities of the debt.

To put this in to perspective the EU and IMF have basically waved the cost of the debt for the forseeable future thereby alleviating the pressure on Greece all the while adding to that debt by extending further loans to enable the state to run.

The next step will be to write-off that debt which would be the last measure and detroy what little credibility the EU/IMF have. Now they will look to addressing the crises in Spain and Italy who will demand similar terms under precedence.

Unlimited cost free funding which can only be funded by monetary expansion triggering inflationary pressures which will destroy the single currency and mortally wound the EC.

Political ill-will and procrastination drives Europe to a far bigger cliff than the US face. The EUR traded 1.2935 with the GBP 1.6020 looking vulnerable. In the US, talks around Fiscal Cliff negotiations appear to be heading in the wrong direction with growing pressure from Democrats to ignore fiscal cuts and extend taxes.

The left seems committed to driving America into Socialism and dependency which will lead to destruction as it had in Europe.

The Case Shiller Home Price Index rose again offering some good news with a rise in Consumer Confidence boosting hopes, although durable good orders were flat.

The AUD held 1.0450 and the KIWI 0.8200 but the looming crises in the US adds to downward pressures.

HK Dragon Champs 2012 -  Joyce Ravara/RHKYC   Click Here to view large photo

Collinson FX market Commentary: November 27, 2012

Stocks opened the new week in the US lower with growing doubts about evasion of the fiscal cliff. Politicians are toying with the fiscal cliff with many seeing tax rises and cuts to defense as more than just palatable, attractive even.

Democrats are expected to be divided over this and a grand coalition of post-election euphoria is disappointing quickly. Obama may hobble an agreement but taxes will rise and entitlement spending will continue to spiral out of control. In Europe, EU members failed to agree on the new seven year budget but all managed some successful photo opportunities. EU Finance Ministers gathered to approve the release of the next tranche of the Greek Bailout.

Debt has overwhelmed the country with GDP contracting thus preventing the servicing of existing debt at discount interest rates. The next step will be an interest rate moratorium followed by debt write downs. This is a broken state and the continued support is untenable but preferable to the collapse of the single currency. The EUR trades below 1.3000 while the GBP holds 1.6000. In the US the Dallas Fed's Manufacturing Activity Index contracted 2.8 and the Chicago Feds Activity Index also fell 0.56.

Economic data will not be great short term and Political procrastination should ensure a return to global recession by the new year. Doha Global Climate Change should sort out the Earths warming by taxing the richer nations providing some relief. It is working well in Australia with the largest global Carbon Tax reducing temperatures to sooth the populace!

Commodities remain steady with the AUD holding above 1.0400 and the KIWI just under 0.8200.

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=104210

8:36 PM Wed 28 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:

28 Nov 2012  Collinson FX Market Commentary: November 28, 2012 - Good news from EUR
27 Nov 2012  Collinson FX Market Commentary: November 27, 2012 - Fiscal Cliff looms
24 Nov 2012  Collinson FX Market Commentary: November 23, 2012 - Surge in Equities
22 Nov 2012  Collinson FX Market Commentary: November 22, 2012 - Lift in Equities
21 Nov 2012  Collinson FX Market Commentary: November 21, 2012 - France downgraded
18 Nov 2012  Collinson FX Market Commentary: November 17, 2012 - Deal on Cliff?
16 Nov 2012  Collinson FX Market Commentary: November 16, 2012 - Billions shed
15 Nov 2012  Collinson FX Market Commentary: November 15, 2012 - Economic revolt
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
MORE STORIES ...




News - USA and the World

Sail-World 2.0 - the Beta version- Please take a look by Rob Kothe and the Sail-World team,


America's Cup: Team NZ wish Davis well with new team by Richard Gladwell, Sail-world.com/nz,


Volvo Ocean Race 2014-15 CEO Knut Frostad talks (Part I) *Feature by Rob Kothe and the Sail-World team,


Fisher's View: Sailing perfection at Hamilton Island- Day 3 by Bob Fisher, Hamilton Island, Queensland






2014 Formula Kite World Championship Day 1 by Markus Schwendtner, Istanbul
























Opera House Cup - Images by Ingrid Abery by Ingrid Abery/Sail-World.com,


Teams descend upon Cowes for inaugural J/111 World Championships by Stuart Johnstone, Cowes, Isle of Wight, England




























2014 Nanjing Youth Olympic Games trailer
2014 Chicago Grand Slam - Canfield wins
Round Britain and Ireland Race - Varuna takes overall lead
Audi Hamilton Island Race Week; Crosbie Lorimer Day 1 Images
Fisher's View: Hamilton Island Race Week - Day 1 - Stayin' Alive
CORK Olympic Classes Regatta 2014 - Day one
Youth Olympics: practice over, athletes welcomed, time for YOG sailing
Round Britain and Ireland Race - Record for Artemis-Team Endeavour
2014 Melges 32 U.S. National Championship - Day 2
Sevenstar Round Britain and Ireland: Artemis sets fourth course record
2014 Chicago Grand Slam - Top seeds survive as semi-finalists
420 and 470 Junior Europeans - Breezy day 4 in Gdynia
RC44 World Championship - Dramatic improvement for Artemis Racing
18' Skiff International Regatta - Action begins August 25th
Round Britain and Ireland Race - Challenging conditions arise
Round Britain and Ireland Race - Record-breaking monohull victory
Round Britain and Ireland Race - Dongfeng Race Team finishes third
RC44 Marstrand World Championship - Bronenosec the star performer
Bahamian Olympic Sailor to carry flag in honour of Sir Durward Knowles
Sevenstar Round Britain and Ireland Race: Records continue to tumble
Sevenstar Round Britain and Ireland Race: Course Record for Team SCA   
Round Britain and Ireland Race - Team Alvimedica completes the race   
2014 Melges 32 U.S. National Championship - Day 1   
420 and 470 Junior European Championships - A crazy race day 3   
2014 Sevenstar Round Britain and Ireland Race: Monohull record smashed   
2014 Chicago Grand Slam - Top seeds take the early lead   
Frostad proud to have seven Volvo Ocean Race boats with seven sponsors *Feature   
RC44 World Championship - Bronenosec Sailing Team on form   
Round Britain and Ireland Race - Dongfeng defends third position   
Volvo Ocean Race: Team Vestas Wind emerges into the sunlight   
Volvo Ocean Race: Round Britain on board Team SCA with the   
Volvo Ocean Race: Round Britain on board Azzam and Team Campos   
Sevenstar Round Britain and Ireland Race - Twist of fate on day 5   
Mallorca’s Puerto Portals to host the 2015 TP52 World Championship   
Volvo Ocean Race: Round Britain on board with Team Alvimedica   
Volvo Ocean Race: Round Britain with on board with Team Dongfeng   
Melges 32 U.S. National Championship 2014 - Teams ready for action   
USA Match Racing Grand Slam Series - Kicks off in Chicago   
U.S. Youth Championships - Climactic finish on Lake St. Clair   
Nanjing 2014 Youth Olympic Games - Lake Jinniu action on the horizon   


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