Collinson FX Market Commentary- September 2, 2014

Collinson FX Market Commentary- September 2, 2014 - AUD trades steady

by Collinson FX on 2 Sep 2014

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Collinson FX market Commentary: September 2, 2014

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Labor Day long week end in the US meant a quiet start to a huge trading week. The focus shifted to Asia and Europe with Manufacturing data contracting and offering no reason for confidence.

Chinese PMI contracted and EU data was the worst seen in over a year. This encouraged speculation of further Central Bank intervention reflected in Bond yields. The EURO remained under extreme pressure from economic fundamentals and Central Bank influence, trading 1.3125, while the GBP broke back above 1.6600.

Australian House Prices jumped, increasing the likelihood of a bubble, but off-setting the Chinese manufacturing numbers. The AUD managed to trade steadily around 0.9330 while the KIWI tested 0.8375.

The Ukrainian situation is spiraling out of control and the ISIS situation adds to global Geo-Political pressures. Everything will kick into action when the US Markets open tonight!

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