sail-world.com
 
 
News Home Cruising Photo Gallery Video Gallery
Sail-World.com : Collinson FX Market Commentary: October 26, 2012 - Olympics up UK GDP
Collinson FX Market Commentary: October 26, 2012 - Olympics up UK GDP

'Image of the Day Events Clothing in San Francisco, they were the third placed New Zealand boat in the Nespresso series'    Christophe Favreau ©    Click Here to view large photo

Collinson FX market Commentary: October 26, 2012

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

Markets continued to range trade with little of substance in terms of eco-political events to move the dial. In Europe there were no major economic releases and the EUR traded steady at 1.2950 although the GBP surged to 1.6120 after some solid GDP growth.

UK GDP grew 1.0% for the quarter exceeding expectations with the Olympic bounce. In the US, equity markets stalled in the lead up to the Presidential elections although rumours swirled of a Fitch downgrade on the horizon for the worlds largest economy. Pending Home Sales disappointed barely gaining 0.3% after growing expectations for the housing sector. Durable Goods Orders gave some reason for confidence jumping 9.9% and Weekly Jobless Claims falling 23,000.

The KIWI rallied strongly after new Reserve Bank Governor, Wheeler, continued the status quo. Any thoughts of a pro-active Central Banker were dashed with more of the same. Despite Central Banks globally slashing interest rates to zero and recognising the impact this has had on the currency he has decided to maintain the rate differential presumably fearing inflation and a new housing bubble. There can be no significant inflation without growth but he has no intention of even popping the cork on the Genie bottle. He may know something we do not!?!?

The NZD surged to 0.8220 with little prospect of a rate cut thus supporting the currency. The AUD held ground as the RBA ponders a Melbourne Cup/US Election rate cut. The AUD traded 1.0350 as economic circumstances deteriorate and the Government flounders with revenue disease hitting the promised and sacred budget surplus.

This is becoming even less believable if that is possible? The US elections will continue to dominate with a rally on for a Romney vistory and the opposite for more of the same!

Image of the Day

Ran Tan in strife after the start of the 2012 Coastal Classic -  Richard Gladwell_©   Click Here to view large photo

Collinson FX market Commentary: October 25, 2012

Markets remain steady awaiting major economic or political events this side of the Presidential election. European economic data continues to disappoint with the PMI falling to three year lows, level with the Post-GFC Recession.

Greece has announced a moratorium on austerity caveats enabling them to continue to blow-out any and all Bailout targets and still receive funding from the EC. The decision must be based on the premise that anything and all must and will be done to prevent the first shoe to drop!

The sheer desperation is astounding and the costs to the EC undisclosed. In Asia the Chinese PMI contracted for the 12th straight month still operating below 50. The AUD contradicted other risk aversion with a strong move back to 1.0350. This was due to a surprising blow-out in inflation data. The CPI rose 1.4% for the quarter and 2.0% for the year.

This is due, in the main, to the flow on effects of the Governments Carbon Tax. The Carbon Tax effects major Carbon producers but necessarily raises the price of electricity across the board. Electricity and Gas have risen over 15% for the quarter, which is the biggest rise ever recorded! It is the flow through of these cost that are impacting the economy as this is a universally pervasive tax. This continued inflationary pressures have increased the cost of living to a struggling citizenship and terminally affected Manufacturing relying on electricity and gas. Ironically, Government reports an increase in future carbon emissions and with rising global coal exports, rising Global Carbon emissions! A planned hatched in Academic Heaven and endorsed by naive liberal acolytes.

In the US, New Home Sales rose 5.7% although Weekly Mortgage Applications fell 12%. The Feds two day meeting ended with no interest rate change and an endorsement of Operation Twist and QE Infinity. Growth was moderate with record low interest rates to continue to mid-2015. Nothing new from the Fed with rumours flying of the impending resignation of Bernanke whatever the election result.

The EUR continued to trade below 1.3000 although the GBP rallied to 1.6030. EU Debt crises developments and the Presidential elections will dominate markets for the next two weeks although many will watch the RBNZ and their penchant for positive pro-active policy!?

Image of the Day Erazer sailing two handed after the start of the 2012 Coastal Classic -  Richard Gladwell_©   Click Here to view large photo

Collinson FX market Commentary: October 24, 2012

Equity markets plunged overnight with growing fears from Europe and disappointing corporate earnings from the US. In Europe, S&P downgraded some regional Governments in Spain while news that the economy is contracting at a greater pace than expected.

The third quarter GDP contracted at 1.7% after austerity had hit the second quarter by 1.3%! The enormous collapse in growth as a direct result of austerity measures will push panic buttons across Europe. The medicine prescribed has the collateral damage that will impact these nations socially with citizens rioting the hardship. This should serve as a stern warning to the US and the track they have been on.

It should drive voters away from the failed policies of the left with the spend and borrow mentality fueled by corrupted Keynsian economics. The EUR dropped below 1.3000 and the GBP under 1.6000 as confidence collapsed. The Reserve Bank of Canada left rates unchanged as the Fed met for their two day meeting. Expectations are for no further action reliant on QE Infinity!

The AUD fell back to 1.0250 and the KIWI to 0.8115 with risk appetite hemorrhaging with Australian Leading Index failing 0.8%.

The digestion of the Australian Mid-Year Budget update is seen as the 'shuffling of the deck chairs on board the Titanic' to many commentators!

Image of the Day 2012 Coastal Classic - Crusader’s crew gets a wet ride out of the Rangitoto Channel -  Richard Gladwell_©   Click Here to view large photo

Collinson FX market Commentary: October 22, 2012

Markets continued to retreat after Fridays big falls. In Europe, Spanish regional elections have done little to impact the EUR which traded 1.0350 and the GBP 1.6000.

Eurozone Debt to GDP rose to 87.3% which is closing fast upon the magical 100% which has lead to many individual national crises. In the US, markets were lower after further weak Corporate earnings and confidence on the slide. The focus is on the fast approaching Presidential Elections and the final Presidential debate overnight.

In Asia the mood was set with deteriorating Trade data from Japan with Exports declining over 10% and Imports on the rise.

In Australia, the Government has released a mid-year Budget update early to avoid inclusion of declining revenues form an economy impacting by falling global demand. The AUD held 1.0300 after the announcement, although does look vulnerable to the Global instability. The KIWI continues to trade around the 0.8150 levels.

Focus today will be political in Europe and especially the US!


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=103201

10:11 PM Thu 25 Oct 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:

25 Oct 2012  Collinson FX Market Commentary: October 25, 2012 - Markets steady
24 Oct 2012  Collinson FX Market Commentary: October 24, 2012 - Markets dive deeper
23 Oct 2012  Collinson FX Market Commentary: October 22, 2012 - Markets take a bath
18 Oct 2012  Collinson FX Market Commentary: October 18, 2012 - Huge rebound
17 Oct 2012  Collinson FX Market Commentary: October 17, 2012 - Markets rally
16 Oct 2012  Collinson FX Market Commentary: October 16, 2012 - Markets open strong
13 Oct 2012  Collinson FX Market Commentary: October 12, 2012 - Markets & Kiwi flat
11 Oct 2012  Collinson FX Market Commentary: October 11, 2012 - Alcoa moves ahead
10 Oct 2012  Collinson FX Market Commentary: October 10, 2012 - IMF rings bell
09 Oct 2012  Collinson FX Market Commentary: October 9, 2012 - US markets light
MORE STORIES ...




News - USA and the World

The first of the iconic Great Capes has been passed in the Barcelona World Race with Cheminées Poujoulat rounding the Cape of Good Hope earlier this morning. Bernard Stamm and Jean Le Cam passed 20°E around 400 miles south of Cape Agulhas – the southernmost tip of Africa – at 0935am (UTC) today and have begun the Indian Ocean leg of their race around Antarctica. ... [more]  

The Classic 18fters were racing again on Saturday on Sydney harbour. Michael Chittenden caught the action from a shore vantage point. ... [more]  

When race leader Dongfeng rounded Singapore 60+ nautical miles ahead of the chasing pack, it looked like the final 1200 miles of Leg three would be a procession but over the last day, the Volvo Ocean race leg from Abu Dhabi to Sanya China appears to have tightened incredibly. ... [more]  

US Sailing and Rolex USA announced last week that the 2014 Rolex Yachtswoman of the Year is Stephanie Roble. Her accomplishments on the water last year were recognized by the selection panel for her versatility; her accomplishments as a skipper and as a crew; and her competitive successes on a variety of platforms, sailing against both men and women. ... [more]  

Barcelona World Race - The first of the Great Capes is fast-approaching, with the leading boats in the Barcelona World Race expected to pass the longitude of the Cape of Good Hope at the tip of South Africa tomorrow. As they pass 20°E, the Atlantic Ocean will deliver its verdict – did Cheminées Poujoulat’s east-bound track or Neutrogena’s southerly gamble pay off? ... [more]  

Mardi Gras may not be for another month but US Sailing’s National Sailing Programs Symposium (NSPS) kicked it off early for Oakcliff Sailing this year. This evening, Oakcliff received The Captain Joe Prosser Award, given to an organization that has made an exemplary contribution toward improving the quality and safety in the training or instruction of sailors. ... [more]  

The 35th St. Maarten Heineken Regatta has already attracted entries from 20 different countries: Antigua, Austria, Belgium, Brazil, Canada, Dominican Republic, Estonia, France, Germany, Great Britain, Italy, Lithuania, Netherlands, Norway, Puerto Rico, Russia, St.Maarten, Uruguay, USA and the US Virgin Islands. ... [more]  

The world is watching. Can Dongfeng Race Team hold onto their 57 nautical miles lead to China for what will essentially be the ultimate home victory? Or will another team get desperate and make a bold decision that could cost Dongfeng their win? ... [more]  

Most of the marque classes at Quantum Key West Race Week 2015 came down to the last day of the regatta, which delivered the toughest conditions of the week. Howling winds and rough seas challenging the competitors on Friday, forcing the top contenders to raise their game in order to claim overall victory. ... [more]  

Barcelona World Race - Sport met science today on the Barcelona World Race when the pairs of skippers took the first opportunity to deploy their data monitoring Argo beacon which was given to them in Bareclona prior to the start. ... [more]  

2015 Quantum Key West Race Week - It really wasn’t our week. Two races were held today in very nice conditions and we finished third in both. Bella Mente won both races to win the class. ... [more]  

The Mount Gay Round Barbados Race Series, incorporating three days of coastal racing and the Mount Gay Rum Round Barbados Race concluded last night at a sumptuous, Mount Gay Rum-fuelled prizegiving dinner and party. The final 300-mile Ocean Race to Antigua to tie up with the Superyacht Cup starts on Saturday. ... [more]  

Photographer Ingrid Abery was on the water again today at 2015 Quantum Key West Race Week, and provided this gallery of images from day five ... [more]  

Volvo Ocean Race 2015 - With a solid 17-20 knots from the north east, reducing the possibility of a distance sapping park up, the likehood of the Leg three leader the Chinese boat Dongfeng getting the gun in Sanya just 640 nautical miles ahead continues to strengthen. ... [more]  

The 2015 ISAF Youth Match Racing World Championship set to be held in Swinoujscie, Poland from 15 – 19 September 2015 Notice of Race has been released. ... [more]  

Currently doing scheduled maintenance. Some elements of site may not be visible at the moment. ... [more]  

On 2nd January 2015, Team Vestas Wind announced that skipper Chris Nicholson had been tasked to review the team during the month of January. The objective is to ensure the right team for the come back to the race, which is now, for this team, of a different nature than the scheduled original route from Alicante to Gothenburg. ... [more]  

Beau Outteridge has compiled a video of highlights and interviews from the 2015 McDougall + McConanghy Moth Worlds completed recently in Sorrento, Melbourne ... [more]  

Former Oracle Team USA team member, Matthew Mitchell has 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]  

Photographer Ingrid Abery was on the water at 2015 Quantum Key West Race Week, and provided this gallery of images from day four. ... [more]  

2015 ISAF Sailing World Cup Miami - Along with the rest of the 848 sailors from 63 nations currently training in Florida ahead of ISAF Sailing World Cup Miami, Presented by Sunbrella (January 26-31), US Sailing Team Sperry Top-Sider athletes and coaches have entered a period of intense focus ahead of the first major Olympic and Paralympic event of 2015. ... [more]  

2015 Quantum Key West Race Week - It probably won't be a late night on Duval Street for the sailors competing on Division Two and Three at Quantum Key West Race Week 2015. After doing three races in strong winds on Thursday, there are no doubt a lot of sore muscles, aching bones and tired bodies. ... [more]  

Children’s heart health continues to benefit from Team Alvimedica’s online auction now underway for two unique experiences during the Volvo Ocean Race stopover here. The Chinese Agape Foundation Inc. will be the recipient of funds raised for these unique team experiences in Sanya, the next stopover port of the global ocean race. ... [more]  

Lauderdale Olympic Classes Regatta overall by John Payne, Fort Lauderdale
The Lauderdale Olympic Classes Regatta was held January 17-19 in the Atlantic Ocean off of Dania Beach in Ft. Lauderdale, FL. Open to Finns (it’s their Midwinter Championship), Lasers and Laser Radials, competitors came from twenty countries and Puerto Rico. They range in age from 14 to 79. ... [more]  

Volvo Ocean Race 2014-15 Leg 3 update from Dongfeng Race Team: All hands on deck as Chinese crew suffer damage to their boat as the tack line of an important sail (J1) broke suddenly sending the 132 m² sail shooting up the forestay in a matter of seconds. The team have managed to set up a temporary replacement but the reality is, this is a rude awakening of how far away the finish line is. ... [more]  

The city of Cagliari , Sardinia - Italy, will inaugurate the 2015 – 2016 America's Cup World Series, the regattas preliminary to the 35th America's Cup. The event will take place in the Gulf surrounding the island's capital from June 4 to 7, 2015. ... [more]  

Based off early morning forecasts, it appeared a lay day might be in the cards for competitors at Quantum Key West Race Week 2015. Some sailors might have already been making plays to play tennis or go fishing during an hour-long dockside delay. ... [more]  

Bay of Islands photographer, Steve Western was on hand to catch the action on the on the first Day (and with a couple from Day 2) of racing at the Millennium Cup and Bay of Islands Sailing Week. The two events are being conducted in the picturesque Bay of Islands, Northland, NZ. Five superyachts are competing along with round the world race winner Steinlager 2. ... [more]  

Despite generally light airs with winds reaching no more that 15kts, three teams have won their skipper’s weight in rum for breaking records in the 79th Mount Gay Rum Round Barbados Race. ... [more]  

2015 St. Maarten Heineken Regatta - There is no straightforward regatta 'formula' and many events around the world strive to improve the experience that participants have year after year. For the St.Maarten Heineken Regatta it is no different, and this year they are listening to the regatta sailors when it comes to on shore venues and locations. ... [more]  

Photographer Ingrid Abery was on the water at 2015 Quantum Key West Race Week, and provided this gallery of images from day three. ... [more]  

Sailing in light winds of under 10kts, five superyachts enjoyed the first day's racing at the Millennium Cup sailed in the Bay of Islands, in Northland, New Zealand. Five superyachts are competing Silencio, Silvertip, Bliss, Janice of Wyoming and Sassafras. Three of these designed by Ed duBois, who is attending the regatta. ... [more]  

Volvo Ocean Race - Up up and away by Rob Kothe and the Sail-World Team
Volvo Ocean Race 2015 - The nightmares of the Malacca Straits behind them, leg three leaders Dongfeng Race Team have now well and truly entered the South China Sea, clearing Singapore without too many problems on the way to Sanya. China, a little over 1000 miles away. ... [more]  

Barcelona World Race - 'Haves' and 'Have Nots'
Volvo Ocean Race Leg 3 update from Jack Bouttell onboard Dongfeng
ISAF Sailing World Cup Miami - Game time!
Extreme Sailing Series™ 2015 – Ninth year ready to rock!
Foiling GC32s Key West Race Week images by Ingrid Abery
Mount Gay Rum Round Barbados Race - Crews prepare for big race
2015 Quantum Key West Race Week - Day 2
2015 Quantum Key West Race Week - A challenging day
America's Cup: Spithill leads Oracle reconnaissance team in Bermuda
Extreme Sailing Series announces new teams and venues for 2015
Barcelona World Race - Leaders enter the fastest section of the course
Martinique Surf Pro - Must attend event in the world surfing circuit
New York Yacht Club Invitational Cup preview
RORC Caribbean 600 proving irresistible
18ft Skiffs: Images from NSW Championships - Race 2
Volvo Ocean Race – Malacca Nightmare – now it’s a boat race again!!
2015 Annapolis to Newport Race - Battle for Surflant Prize
2015 Quantum Key West Race Week - Off to a great start
Volvo Ocean Race: Team Alvimedica - Enter the Dragon + Video
Mount Gay Round Barbados Race Series - Day 3
World Match Racing Tour's title sponsor goes into administration   
Kieler Woche 2015 promotes Olympic sailing competitions   
Trofeo S.A.R. Princesa Sofía – Kiteboarding and Dragons return   
ISAF Sailing World Cup Miami preview   
Audi Melges 20 Class - Miami Winter Series   
Barcelona World Race - The South is looming.   
Island Water World Grenada Sailing Week announce new one design class   
Volvo Ocean Race 2014-15 Leg 3 position report for 19th January   
Pape Chevrolet North American Championships - Register today!   
Volvo Ocean Race: Sally Barkow - from the Olympics to the Volvo   
Volvo Ocean Race Leg 3 - The big casino *Feature   
C&C 30 Javelin makes West Coast Debut   
Quantum Key West Race Week - Flurry of activity   
2015 Mount Gay Round Barbados Race Series - Day 2   
Volvo Ocean Race Leg 3 - Entering the Malacca Strait   
McDougall+McConaghy Moth Worlds: More Alex McKinnon images   
Quantum Key West Race Week - GC32 class joins the action   
Mount Gay Round Barbados Race - Racing underway in classic conditions   
Barcelona World Race - Matched up for a Duel in the South   
McDougall+McConaghy Moth Worlds: Final day's action and Interviews   


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