sail-world.com
 
 
News Home Cruising Photo Gallery Video Gallery
Sail-World.com : Collinson FX Market Commentary: October 2, 2013 - Shutdown on ignore
Collinson FX Market Commentary: October 2, 2013 - Shutdown on ignore


'Stoke Beer(NZL) 18ft Skiffs San Francisco, USA'    Richard Gladwell ©    Click Here to view large photo

Collinson FX market Commentary: October 2, 2013

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

The US Government shut down and 800,000 Federal workers receive a furlough but the world did not come to an end!? Surely the loss of some 800,000 Federal workers is not going to destroy the global economy and the markets decided that too. This can only be temporary as they do perform some necessary tasks and the outcome may determine the result of the real fight looming.....the Debt Ceiling debate!

It is the compromise reached over these actions that may determine a change in fiscal policy and political ascendancy in the US. The ISM report, released overnight, showed a rise in Manufacturing activity in the US which may encourage thoughts of the dreaded tapering. The EUR remained flat, trading 1.3530, after some lackadaisical PMI Manufacturing data releases and flat Employment statistics. Commodities drifted lower with Chinese Manufacturing PMI showing no real signs of imminent break out recovery.

The impact on the AUD was inverse, as the RBA left rates unchanged at 2.5% and some positive economic reports. Australian PMI rose to 51.7 from 46.4, with New Home Sales rallying by 3.4% and Retail Sales improving by 0.4%. Economic data improvement may be a good sign domestically with the adults taking over Government.

The KIWI did not fare as well drifting to 0.8275 correcting a recent surge in the Trans-Tasman cross rate. Look for plenty more economic data and Geo-Political action to drive volatile markets.

18ft Skiffs San Francisco, USA -  Richard Gladwell_©   Click Here to view large photo


Collinson FX market Commentary: October 1, 2013

Equity markets fell again overnight as the pending US Government shutdown appears more likely.

The deadlines are disappearing and it seems likely the shut down will occur with the Debt Ceiling debate looming large. Uncertainty prevailed overnight and another volatile October seems to be in the offing. Equities hate the uncertainty and the steady meltdown continues. The USD is not as attractive in the face of all the political warfare and the GBP continues to book heavy gains, rising to 1.6180.

Even the single European currency took heart and rallied to 1.3525. Commodity currencies continued to be beneficiaries with the KIWI breaking 0.8300 after a rise in business confidence.

The AUD also managed to break back over the 0.9300 in spite of adverse local currents. Attention will be focused on the US Government so politics will drive markets over the next 24 hours!


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=115290

9:44 PM Wed 2 Oct 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:

04 Oct 2013  Collinson FX Market Commentary: October 3, 2013 - Battlin' on
02 Oct 2013  Collinson FX Market Commentary: October 1, 2013 - Shutdown looms
28 Sep 2013  Collinson FX Market Commentary: September 27, 2013 - Break back
07 Sep 2013  Collinson FX Market Commentary: September 5, 2013 - Dollar rebounds
04 Sep 2013  Collinson FX Market Commentary: September 3, 2013 - Chinese growth
30 Aug 2013  Collinson FX Market Commentary: August 30, 2013 - Wall St over Syria
29 Aug 2013  Collinson FX Market Commentary: August 29, 2013 - War stops Kiwi drops
29 Aug 2013  Collinson FX Market Commentary: August 28, 2013 - War talk crash
28 Aug 2013  Collinson FX Market Commentary: August 27, 2013 - NZ numbers not good
25 Aug 2013  Collinson FX Market Commentary: August 24, 2013 - Back to the Future
MORE STORIES ...




News - USA and the World















































America's Cup: Challenger calls Competitor Meeting ahead of deadline *Feature by Richard Gladwell Sail-World.com/nz,




















Volvo Ocean Race - Abu Dhabi and Team Alvimedi head for England
Rio 2016 in the sights of ISAF Youth Worlds 420 sailors
Exciting new International Audi Melges 20 Ranking System now in play
FISU World University Match Racing Championships - GBR women win gold
2014 Seiko 49er and 49erFX European Championship - Day 2
Volvo Ocean Race teams Abu Dhabi and Alvimedica leave Newport, RI
Half Ton Classics Cup - Champagne conditions on Day 2 + Video
ABYC Fourth of July Regatta - Snipes join the action
Volvo Cork Week - Three bullets for ballistic catapult
Nacra 17 Europeans - Besson and Riou lead the overall standings
Formula 16 World Championship - Aussies claim title in Newport
Vestas Sailrocket 3 - The journey beckons
Clipper Round the World - London to provide emotional heroes welcome
ISAF Youth Worlds - Italians to lead RS:X fleet in Tavira
Vestas Sailrocket 3 - Over the Horizon
Foiling Week - Italian Moth Championship - Final results
NYYC Race Week - Yachting history on display
Rescued sailors reach shore after dramatic ocean rescue
Half Ton Classics Cup: Swuzzlebubble out front on Day 1 + Video
New York Yacht Club Race Week - Yachting history on display
Volvo Cork Week - Thrilling conditions welcome international fleet   
Nacra 17 Europeans: Success for Italy's Bissaro and Sicouri   
America's Cup: 2017 venue short-list reduced to two Cities   
Formula Windsurfing Youth and Master Worlds overall   
49er and 49erFX Europeans: Pitfalls aplenty on day 1 + Video   
ISAF Youth Worlds - Laser Radial sailors look to join list of legends   
Coville soon to chase solo circumnavigation record in giant trimaran   
Fierce competition at the Meanline Fins Slalom Challenge   
Volvo Ocean Race - Team Brunel opt for experienced winner   
Bakewell-White supermaxi designed to take Transpac's Barn Door Trophy *Feature   
Crew rescued by navy patrol from J/111 racer after Mayday in storm   
Team Alvimedica practice in Newport, RI - Photos   
18 foot skiff European Championship (Open Europeans) - Final results   
Nacra 17 European Championships - No action on day 1   
ISAF Youth Worlds - 29er and SL16 sailors prepare for battle + Video   
Volvo Ocean Race: Eight new crew members named by teams   
Volvo Ocean Race: New additions to Spanish team announced   
2014 Cape Panwa Hotel Phuket Raceweek - Phuket Island is ready to host   
PWA Awaza World Cup - Cyril Moussilmani and Delphine Cousin on top   
Foiling Week - Moth Class Italian Open Championship Day 2   


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