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

'Not a lot of stress at the 2012 Auckland On the Water Boat Show'    Richard Gladwell    Click Here to view large photo

Collinson FX market Commentary: September 29 2012

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

Spanish Bank stress tests recognised a shortfall of EUR$60 Billion in Capital which is in line with expectations. This comes after a budget which impressed markets despite over ambitious growth targets.

The news, although not surprising, is bad and should be treated as such. The French Socialists released their own budget which was responsible and predictable. Hollande fulfilled his promise to raise taxes on the rich and held a pretty tight fiscal line. The EUR dropped to 1.2840 and the GBP 1.6125. In the US, the Chicago PMI fell blow 50 into negative territory frightening markets which closed the week lower.Consumer Sentiment also continued to deteriorate which is typical of economic data releases since QE Infinity.

Commodites suffered and the AUD fell back to 1.0370 and the KIWI dipped below 0.8300. Relatively the NZD continues to gain against big brother. The new week will focus on Central Bank announcements from Australia to Japan and Europe.

US Markets will watch Europe closely but attention will turn to the all important employment reports. The US will be incresingly diverted by the upcoming Presidential election and the result it could have on the economy especially the pending fiscal cliff!

Image of the Day 2012 Melges 32 World Championship -  © Max Ranchi Photography  

Collinson FX market Commentary: September 28 2012

Risk appetite rallied strongly but not for all the right reasons! Equity markets surged with news from Europe and Asia. China added monetary stimulus to the tune of $57.9 Billion with the promise of further stimulus to support a flagging economy. The stimulus does indicate increasing pressures within the Asian powerhouse that is not always revealed in the stellar economic data provided.

In Europe the Spanish Budget was released confirming further austerity measures to address the desperate economic situation. The markets loved it but the extension of hardships may see further social upheaval as has been experienced in the last few days. The sacrifice reduced the deficit from 6.3% of GDP to 4.5%, but this is still a deficit and thus continues to add to the debt that is overwhelming the nation. The US equity markets rallied strongly on the news from Europe and Asia with risk sentiment jumping sharply.

This was despite continued poor economic data. Durable Goods Orders fell to a 3 1/2 year low falling 13.2%! GDP has collapsed to 1.3% reflecting the dire state of the worlds largest economy. GDP growth has continued to beat expectations to the downside and destroy any argument that fiscal policies of the Obama regime are in any way working. This economy only survives on the incredible expansion of the Fed's balance sheet with little in the way of investment and growth. Pending Home Sales fell 2.6% denting claims of a recovery in the housing sector.

The Bulls remained in ascendancy but fundamentals point to the dire state of the economy and enormous downside risks. Commodities had further gains boosting the associated currencies with the AUD moving back to 1.0450 and the KIWI burning up to 0.8300. These fundamentally flawed rallies fueled by Central bank largesse will come to a sticky end if the polls are correct in America!

Image of the Day Day 4 - SB20 European Championships 2012 -  Alan Hillman & Katie Ashworth/Sportsboat World  

Collinson FX market Commentary: September 27 2012

Europe again seems to be on the brink, with riots in the streets of Greece and Spanish civil upheaval. The drug addicts are rising up with the threat of reduced or cancellation of their fix. It appears that the socialist nations have built a dependency on the state which has been funded by debt and has now overwhelmed their domestic economies and is about to overwhelm the EC!

The expansion of the Money Supply, through printing more EUROs, has taken the ECB balance sheet beyond ridiculous and destroyed wealth. There is no further option and Super Mario has gone all in! Risk aversion has now tipped the balance and despite QE Infintiy, the Dollar has risen with the EUR dropping to 1.2850 and the GBP 1.6150. The crises in Europe is in a death spiral with Politicians unable to solve the problems due to lack of national support. They need to balance budgets and attack the debt but the citizens have become dependent on the Government who does not generate any income.

Austerity has resulted in civil disobedience which now acts as a deterrent to fiscal action. In the US, New Home Sales disappointed falling 0.3% popping the wave of optimism in the Housing sector. Commodities drifted lower and risk aversion hit the AUD which dropped to 1.0350.

The poorer cousin continues to hold above 0.8200 defying gravity and enjoying relative gains despite the fall in risk appetite. Europe is driving the fear markets are experiencing as confidence in Monetary solutions wain and leaders fail. We need a quantum change politically and this must start with the worlds largest economy!

Olympic Flashback Paul Snow-Hansen and Jason Saunders approach the second nark in second place in the opening race of the 470 Olympic Regatta, Weymouth -  Richard Gladwell   Click Here to view large photo

Collinson FX market Commentary: September 26 2012

ECB President, Draghi, met with German Chancellor, Merkel, today and promoted the ECB Bond Buying Bailout plan as a sucess pointing to the relative stability experienced recently.

The worries still remain as fundamentally all they have achieved is a temporary reprieve in the form of lower short term interest rates. The fundamental crises not only remains but grows with individual nations deficits. Spain remains under pressure with protests and civil upheaval sparked by the introduction of further austerity measures. IMF President advises a write-off of unmanageable Greek debt setting a wonderful blueprint for other trouble member nations. Unsustainable deficits lead to unsustainable debt. Solution:Lend more money and artificially lower rates through monetary intervention to allow sustainability.

Debt continues to rise as deficits remain so write off the debt! Absolute lunacy! In the US, markets drifted lower after some uncomplimentary comments from Philly Fed Chairman Plosser. Plosser advises that QE Infinity will atificially lower short term interest rates and do little to lower long term rates. It will not, therefore, do much to boost growth or employment.

A fail from Plosser does little for the Fed's credibility!.The EUR dropped below 1.2900 with the news although stronger economic data pushed the single currency above the big figure. S&P Home Prices rose for the seventh straight month and Consumer Confidence hit a new high propelled by QE3.

Commodities tread water supported by a weak Dollar but undermined by risk appetite.The AUD held 1.0400 and the KIWI moved to .8240 showing some local support after a slow start to the week. Europe will remain the focus with US economic data driving sideway market direction.

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=102435

3:23 AM Sat 29 Sep 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:

29 Sep 2012  Collinson FX Market Commentary: September 28, 2012 - Risk appetite up
27 Sep 2012  Collinson FX Market Commentary: September 27, 2012 - Europe's on brink
26 Sep 2012  Collinson FX Market Commentary: September 26, 2012 - Treading water
22 Sep 2012  Collinson FX Market Commentary: September 21, 2012 - Data pushes KIWI
20 Sep 2012  Collinson FX Market Commentary: September 20, 2012 - Japan buys bonds
19 Sep 2012  Collinson FX Market Commentary: September 19, 2012 - KIWI on hold
18 Sep 2012  Collinson FX Market Commentary: September 18, 2012 - KIWI at 0.8250
17 Sep 2012  Collinson FX Market Commentary: September 17, 2012 - Equities rally
14 Sep 2012  Collinson FX Market Commentary: September 14, 2012 - Bernanke acts
12 Sep 2012  Collinson FX Market Commentary: September 12, 2012 - Bad news is good?
MORE STORIES ...




News - USA and the World

Team Vestas Wind skipper Chris Nicholson (AUS) has flown back to a remote Indian Ocean reef to help oversee a complicated operation to retrieve his stranded boat after it was grounded there during Leg 2 of the Volvo Ocean Race nearly three weeks ago. ... [more]  

Images from Mauritius as the Team Vestas Wind recovery crew prepare to depart for the Cargados Carajos Shoals, over 200nm away. The team have acquired some salvage equipment and will live aboard a chartered boat and attempt to float the boat over the reef and into the lagoon. ... [more]  

The skipper of Mapfre, Iker Martinez will leave the Campos managed Volvo Ocean Race entry for the third Leg of the Volvo Ocean Race. The team cites a conflict between Martinez's Olympic commitments in the Nacra 17 and the Volvo Ocean Race, as the reason for the departure which the team says was a planned move. ... [more]  

The America's Cup Competitor Forum, comprising the six teams registered for the 2017 America’s Cup, has appointed Iain Murray as Regatta Director. The appointment was tipped a month ago in Sail-World.com. Under the Protocol for the 35th America's Cup, the appointment has to be approved by the majority of the competitors. ... [more]  

If you missed this week's edition of Adventures of a Sailor Girl, then hear the replay below. This week's show is the 34th. Sailing news in sixty seconds-ish (2:46). Sail Sydney: Josh McKnight (Moth, 9:43), Tom Spithill (Moth, 12:45), Olivia Price & Eliza Solly (FX, 15:24) Tom Burton (Laser, 23:20) James Wierzbowski (Extreme 40's, 32:08) and much more ... [more]  

RORC Transatlantic Race 2014: Isabelle Haudiquet was on the helm as the bright yellow hull blasted through the finish line. Having safely moored Bingo after 17 days at sea, the French crew enjoyed a cold beer dockside at Camper & Nicholsons Port Louis Marina. ... [more]  

Volvo Ocean Race: Chris Nicholson Interview - Part 3 - On the Atoll *Feature by Richard Gladwell/Sail-World.com/nz
Final part of a three part, 80 minute, interview with Team Vestas Wind skipper, Chris Nicholson on the wrecking of the Volvo Ocean Race yacht on an idyllic atoll in the South Indian Ocean during the night of November 29. In this part, Nicholson tell what happened once the crew stepped aboard the local coastguard boat just after dawn, and subsequent trips back to the wreck. ... [more]  

2015 International 14 World Championship - Four-time World Champion, Britain’s Archie Massey, expects racing in the titles at Geelong, Australia, will be tight. ... [more]  

The most significant sailing performances of the year are being heralded by US Sailing with the announcement of the ten men and seven women who have been shortlisted for the 2014 Rolex Yachtsman and Yachtswoman of the Year awards. ... [more]  

A successful medal haul for the Australian Sailing Team (AST) at the ISAF Sailing World Cup in Melbourne with five gold, five silver and three bronze in the Olympic class program, plus two gold and one bronze in the Paralympic fleet. Hear what the sailors had to say about their performance, along with some great video footage of the week's racing on Port Phillip. ... [more]  

Bart’s Bash, the global sailing race that took place in 60 countries around the world, on September 21st, 2014 raised an incredible £366,391.95 for the Andrew Simpson Sailing Foundation. The race was held in memory of Andrew 'Bart' Simpson, the Olympic gold medal sailor who died in May 2013. ... [more]  

RORC Transatlantic: As with every yacht participating in the race, staff from Camper & Nicholsons Port Louis Marina greeted the French team on arrival with warm congratulations, a cold beer and a welcome basket from the Grenadian Tourism Association on behalf of the people of Grenada. The crew of five looked tired after nearly 17 days at sea, but owner, Frank Lang was full of praise for his crew. ... [more]  

2014 Rolex Sydney Hobart Yacht Race - Perpetual Loyal is no stranger to the Rolex Sydney Hobart. Winning line honours in 2011, they have continued to be a contender, especially in heavier breezes. ... [more]  

In a lot of ways, it was kind of befitting that the best conditions of the last day of the Sailing World Cup – Melbourne, were saved for the Women’s Laser Radial Medal Race. Apart from highlighting them in glorious sunshine, like Huey’s own spotlights, it also brought into frame that were only two girls 470 crews in attendance for the regatta. ... [more]  

The website for the 2015 Finn Gold Cup in Takapuna, New Zealand, has been launched. The Finn class is eagerly anticipating a return to Takapuna Boating Club for what will be only the second Finn World Championship to be held in New Zealand. It will have been 35 years since Cam Lewis (USA) beat John Bertrand (USA) in a thrilling final race showdown in 1980, to take the Gold Cup. ... [more]  

Looking for a great Christmas present which you can buy with a few mouse clicks? Bob Fisher's books on the Round the World races, Farr 40's and the definitive America's Cup two volume set are still available, along with other titles from South Atlantic Publishing. ... [more]  

In January Nqoba, from Durban, will embark on his Yachtmaster qualification and will have none other than legendary sailor Sir Robin Knox-Johnston, the first man to ever sail solo, non-stop round the world in 1968-69, as his mentor as he takes the first steps to realise his dream of circumnavigating the globe at the helm of a Clipper 70. ... [more]  

IFDS 2014 Worlds: But as you reflect back on the year, we hope you will agree that week of competition in Halifax, Nova Scotia set a new standard for disabled sailing. It was the largest world regatta yet with 18 SKUD-18 teams, 14 Sonar teams and 49 2.4mR competitors and the largest number of countries participating. There were some challenging days finding enough wind to race. ... [more]  

The 2015 McDougall + McConaghy Moth World Championship is set to be even more of a spectacle this year, with the return of the Zhik ‘Mothapolooza’ which promises a potential head-to-head with teams of America’s Cup and Olympic sailors. ... [more]  

Volvo Ocean Race: Chris Nicholson Interview - Part 2 - On the Rocks *Feature by Richard Gladwell/Sail-World.com/nz, Auckland, NZ
Part 2 of three part, 80 minute, interview with Team Vestas Wind skipper, Chris Nicholson on the wrecking of the Volvo Ocean Race yacht on an idyllic atoll in the South Indian Ocean during the night of November 29. In this part, Nicholson covers what happened from the time the Volvo65 hit the reef on the SE corner of the Cargados Carajos Shoals. ... [more]  

Last Saturday saw the third annual St. Maarten Regatta Beach Clean-Up organized by the St. Maarten Regatta as part of the Regatta Art Competition. Unfortunately, due to exams, not many children showed up. ... [more]  

US Sailing’s Olympic Sailing Committee (OSC) has released the selection procedures for the 2016 U.S. Olympic Team (Sailing) in the 10 events selected for the Rio de Janeiro 2016 Olympic Games. The Games of the XXXI Olympiad will take place from August 5-21, 2016, and the sailing events will be based at Marina de Gloria on Rio de Janeiro’s harbor front. ... [more]  

2014 Rolex Sydney Hobart Yacht Race - When the cannon fires sending the 118 entries on their way in the Cruising Yacht Club of Australia’s 70th Sydney Hobart Yacht Race on December 26, two yachts will stand out, because they first competed back in the early days of the race. ... [more]  

Volvo Ocean Race have announced from their headquarters in Alicante, Spain that an independent report has been commissioned into the grounding of Team Vestas Wind’s boat on a reef in the Indian Ocean. The report will be released during the Auckland stopover. ... [more]  

The French sailor scratches his newly shaved skin. He tentatively reaches towards a plate of fried chicken pieces. Still not sure. He rubs his chin again. He hesitates. Laurent briefly runs his eye over the other plates, but finally he can no longer resist the crispy fried chicken pieces. 'This is what I’ve been waiting for,' says the cheerful Frenchman. ... [more]  

Transatlantic Race: After time correction, Apollo 7 is leading IRC Two. Nigel's team included three close friends from his home town of Plymouth, Devon: Steve Wassell, James Slater and Mark Davies. Also on board were two offshore specialists: Dan Gohl, a past Class40 world champion and Sevenstar Round Britain and Ireland Record holder as well as Rolex Fastnet Race winner Brett Aarons. ... [more]  

The 2014 OK Dinghy World Championship opens at Black Rock Yacht Club on Port Phillip Bay in Melbourne, Australia, on December 28th and so far there are around 80 entries, with perhaps a few more before registration closes. This 52nd OK Dinghy World Championship will be the third time that Black Rock YC has hosted the event, following 1982 and 1990. ... [more]  

Adelaide Sailing Club played host once again to the Melges 24 class for its 'Christmas Sprint Series', the third three day M24 regatta in five weeks held by ASC which, (in the same season the club is also hosting the M24 Australian Championship) says something about the power of persuasion, energy and organisation being put in to M24 class by its Australian Secretary Donna Evans. ... [more]  

The team, led by Jerome Clerc, will not compete on the 2015 Extreme circuit but intends instead to focus entirely on the Decision 35 Vulcain Trophy season in Switzerland. The professional sailing squad onboard Realteam capped a superb 2014 season with a third place in Sydney last weekend that put them on the third step of the overall Extreme Sailing Series Championship podium. ... [more]  

Volvo Ocean Race: Chris Nicholson on the Team Vestas Wind disaster - 1 *Feature by Richard Gladwell, Sail-World.com/nz, Auckland, NZ
Part 1 of three part interview with Team Vestas Wind skipper, Chris Nicholson on the wrecking of the Volvo Ocean Race yacht on an idyllic atoll in the South Indian Ocean during the night of November 29. In this part, Nicholson discusses the factors leading up to hitting the reef, interspersed with other research information, charts, video and images. Parts 2 and 3 will follow on consecutive days. ... [more]  

USA 4 Windsurfing campaign by USA 4 Windsurfing Campaign
Change is inevitable. No matter how hard you try to keep things the same, there comes a time when you must move on. The harder you resist, the more difficult the change. ... [more]  

2014 Rolex Sydney Hobart Yacht Race - Bob Oatley’s Rolex Sydney Hobart race record holder, Wild Oats XI, is out of the water for a final modification after a high speed and rough weather training run off Sydney. ... [more]  

This is Peter Perfect in the Turbo Terrific from the 60s cartoon series, the Wacky Races. Of course, to Australians and a plethora of motoring enthusiasts the world over, the real life Peter Perfect will always be The King of The Mountain. RIP Brocky (Peter Geoffrey Brock). ... [more]  

RORC Transatlantic Race 2014 - Big adventure comes to an end
ISAF World Sailing Rankings – 15 December 2014
Comanche; Supermaxi Showdown VIDEO
Miami Star Winter Series - Commodores Cup Final day
2014/15 Audi Melges 20 Miami Winter Series - Jason Michas wins
2014 RORC Transatlantic Race - Yacana crosses finish line
2014 Extreme Sailing Series - Act 8 - Swiss team Alinghi wins
Extreme Sailing Series: Images from Act 8 + Series' Highlights video
Volvo Ocean Race: Dongfeng Race Team - Leg Two review
Extreme Sailing Series: Alinghi crowned 2014 and Sydney champions
Extreme Sailing Series -Sydney Land Rover recognises talent
ISAF Sailing World Cup Melbourne - Medal Race Images
Extreme Sailing Series: Alinghi dons ESS Crown, Oman Air wins award
18ft Skiffs: Rooklyn scores win in Syd. Barnett Jr. Memorial Trophy
ISAF Sailing World Cup: Fan cranks up for final Melbourne day + Videos
Miami Star Winter Series - Commodores Cup Day 1
Extreme Sailing Series: Delayed coverage - Day 4 +Audio *Feature
Volvo Ocean Race - Dongfeng score another excellent result
Audi Melges 20 Miami Winter Series - Fleet rumbles in Miami
Extreme Sailing Series - The Wave, Muscat see championship bid slip
2014 RORC Transatlantic Race - From acorns grow oaks   
Volvo Ocean Race - Team Brunel (NED) wins Leg 2   
2014 RORC Transatlantic Race - Oakcliff Ocean Racing Team wins   
Extreme Sailing Series: Day 3 image gallery from Sydney Harbour *Feature   
The Extreme Sailing Series™ - Action-packed day on Sydney Harbour   
Early Christmas presents for ISAF Sailing World Cup medallists + Video   
Volvo Ocean Race: Leg 2 finish - Team Brunel wins from Dongfeng *Feature   
Audi Melges 20 Miami Winter Series - Day 1 overall   
2014/2015 Audi Melges 20 Miami Winter Series - Images by Joy Dunigan   
Extreme Sailing Series: Live coverage - Day 3 +Audio *Feature   
St. Maarten Heineken Regatta kicks off with successful sponsor party   
Successful seventh edition of 2014 World Yacht Racing Forum   
2014 Star Sailors League Finals - Catching up with Robert Stanjek   
2014 ISAF Sailing World Cup - Melbourne - Day 6 Preview   
Extreme Sailing Series - Act 8 Photos and season highs and lows video   
Volvo Ocean Race 2014-15 Leg Two - Final fight to the finish + Video   
Extreme Sailing Series Act 8 - McMillan tops table in Sydney + Video   
Anna Tunnicliffe: Alinghi - Day 2: Extreme Sailing Series, Sydney   
ISAF SWC Melbourne - Top ten prepare for Port Phillip showdown + Video   
Extreme Sailing Series Act Eight 2014 – Photos by Andrea Francolini   


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