sail-world.com
 
 
News Home Cruising Photo Gallery Video Gallery
Sail-World.com : Collinson FX Market Commentary: August 22, 2012 - Apple symbolic
Collinson FX Market Commentary: August 22, 2012 - Apple symbolic

'Image of the Day The winning Dragon in action - Russian Open Championships 2012'    Carlo Borlenghi ©

Collinson FX market Commentary: August 22, 2012

In a world where Apple has become the biggest company in US history you have to wonder? A company that produces the iPhone and iPad is selling so many, at such a huge margin, that they are now worth more than many small countries. The company is beloved by stock holders but is symbolic of the current downturn in the US.

The brains trust reside in the bankrupt California but all production occurs in China. Sales are global and therefore revenues remain global due to the US tax system. This is indicative of the 'new normal', where growth and revenue occur offshore and the static domestic growth of Western Nations continues to be mired in socialised debt and budgetary crises.

The only respite is further Central bank intervention in expanding liquidity to the banks who refuse to stimulate the small/medium business but rather invest in the impending bubble that is treasuries! The monetary stimulus is eroding citizens wealth in real terms at a dramatic rate but I guess that is the plan. The EUR rallied to 1.2480 after concerns wavered in Europe as Merkel appointee to the ECB, Asmussen, endorsed an unlimited ECB Bond Buying program.

The sheer desperation of unlimited purchase of debt is astounding. It will solve the problem short-term but builds an almost insurmountable problem down the track. Some one has to pay the interest on the debt when budgets can not meet current obligations?!Fitch has warned of further downgrades after rallies in equities hit year highs on the back of monetary stimulus prospects. A removal of cancerous cells, in the form of Greece, may well provide some support for the single currency but that is assuming that Spain and Italy do not need a cull.

The GBP broke out of technical levels on the upside after the Bank of England endorsed a steady interest rate policy.

The RBA reiterated a steady as she goes policy with steady growth and inflation. The need to intervene is not pressing with monetary policy soft providing a surety for AUD holders at 1.0485. The KIWI traded around 0.8100 despite weak Credit Card expenditure and a flight of citizens to the Australian mining sector.

The Fed minutes may provide action but focus will increase on the central bank conference at Jackson Hole!

Amer Sports Too skipper Lisa McDonald 2001-02 Volvo Ocean Race -  Carlo Borlenghi   Click Here to view large photo


Collinson FX market Commentary: August 21, 2012

Mixed messages from Europe sent stocks lower although quiet economic data releases restricted moves. The Bundesbank has reiterated their reservations with regards the ECB's intended Bond buying program.

The reality is that Germany becomes the lender of last resort to a spiralling out of control Europe. A story was also circulating of the ECB imposing a cap on EU Bonds, would have enormous implications in terms of free market operation with far reaching unintended consequences. Merkel meets Hollande Thursday so this may have an impact as they mutually attempt to reassure markets. The EUR has traded sideways at 1.2350 and the GBP reaching 1.5700.

In the US, the Chicago Fed's Manufacturing Index slid lower but the lack of a dramatic collapse in the economy prevents the Fed intervening. Markets will look to the EU Debt/Deficit crises developments for direction and the Fed minutes later in the week.

The AUD stabilised to trade 1.0450 with political rumours swirling of an early election driven by a failure in the Budget surplus and an avalanche of pressure from failed economic policies. A look at the RBA minutes may give insight to the Central Banks view of economic conditions.

The KIWI also held below 0.8100 with not much going on domestically. Central Banks and leading politicians will provide market direction with technicals pointing to substantial resistance on the upside!

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=101212

7:36 PM Tue 21 Aug 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:

21 Aug 2012  Collinson FX Market Commentary: August 21, 2012 - Mixed messages
18 Aug 2012  Collinson FX Market Commentary: August 18, 2012 - Markets flatline
17 Aug 2012  Collinson FX Market Commentary: August 17, 2012 - No surprises
16 Aug 2012  Collinson FX Market Commentary: August 16, 2012 - Bad news turns good
28 Jul 2012  Collinson FX Market Commentary: July 27, 2012 - KIWI above 0.8100
25 Jul 2012  Collinson FX Market Commentary: July 25, 2012 - Negative credit watch
24 Jul 2012  Collinson FX Market Commentary: July 24, 2012 - Euros hit panic button
23 Jul 2012  Collinson FX Market Commentary: July 23, 2012 - KIWI drops under 0.80c
20 Jul 2012  Collinson FX Market Commentary: July 20, 2012 - The economic paradox
19 Jul 2012  Collinson FX Market Commentary: July 19, 2012 - Good news from USA
MORE STORIES ...




News - USA and the World

Volvo Ocean Race: Big gains for two boats in Doldrums *Feature by Richard Gladwell/Sail-World.com/nz
Two boats have made big gains in the Doldrums, with the western-most competitors apparently not stopping and sailing though the convergence zone between northern and southern hemispheres, without dropping below 8kts. Team Brunel and Abh Dhabi Ocean Racing have both made big gains on the rest of the fleet - and the two easternmost boats - Team Vestas Wind and Mapfre, in particular. ... [more]  

Groupe Beneteau today announced its sponsorship of the US Sailing Team Sperry Top-Sider and ISAF Sailing World Cup Miami. Groupe Beneteau is the world's leading yacht builder, and will now become a significant presence in high-performance sailing with its support of both the US national sailing team and North America's premier Olympic and Paralympic classes regatta. ... [more]  

The 2014 RS:X Youth Worlds kicked off on October 20th in Clearwater, USA, and it was hard work from the start: in 5-6 kt of breeze, offshore to start the day and side-on to close it, pumping was in order for the 54 boys and 28 girls gathered here for the 2014 RS:X Youth World Windsurfing Championships. ... [more]  

In spite of Hurricane Gonzalo's thrashing of the Onion Patch last week, the Royal Bermuda Yacht Club and the people of Bermuda are ready to host the 2014 Argo Group Gold Cup, Stage 6 of the Alpari World Match Racing Tour (AWMRT). All 20 teams have arrived safely from their corners of the world and will practice for a day and race on Wednesday. ... [more]  

While the Renaissance Re Junior Gold Cup always offers opportunities for young people to have new experiences, coping with Hurricane Gonzalo offered the 14 competitors traveling from overseas to Bermuda a hurdle that strengthened their respect for this island nation. Many of the 14 competitors spent layover time in either hotels or airports and some are now guests in homes without electricity. ... [more]  

Dynamic Stability Systems welcomes last week’s decision by IMOCA to place no further restrictions on its class rule. This permits both the six new IMOCA 60s currently under construction, as well as the existing fleet, to be fitted with the lateral lifting foils which DSS has spent the last decade pioneering. ... [more]  

Volvo Ocean Race 2014-15. It’s the place where the northern and southern winds meet, where a sailing race can be won or lost in an instant. And with its complex and confusing conditions, lack of breeze, and stifling heat – it’s also a place that most sailors can’t wait to see the back of. But there is one good thing about the Doldrums. ... [more]  

The Atlantic has proved to be a test for the VO65s in the Volvo Ocean Race and their teams as a battle of gybing down the west coast of Africa broke out, keeping all boats in a relatively tight-knit pack for much longer than expected. Having passed Morocco and the Canaries, we were drawn to the tricky-to-handle magnet of Cape Verde. ... [more]  

It’s the dawn of a complicated day in the Volvo Ocean Race. Let’s face it: we’re not having a very good time on Dongfeng. We lost distance last night, and our leading position. The day got dull afterwards. Sailing straight ahead, with the spinnaker up, in light winds. ... [more]  

Volvo Ocean Race 2014-15, Day 10 onboard Team SCA. Two days, eight hours, thirty-four minutes, and ten seconds, nine seconds, eight, seven, six, five… over the last few days the clock has gotten louder and louder as it counts down to October 23rd at noon—the time when we cross the equator and the time when myself and six other sailors join the rest of our crew in King Neptune’s court. ... [more]  

For Pablo Arrarte Elorza, the Volvo Ocean Race is a tough challenge. Not as far as physical effort is concerned because this likeable Spaniard is a very strong guy. For Pablo, the race is mostly a culinary war of attrition because the food that the team has bought with it on the race does little to please his gourmet palate. ... [more]  

The team at The St. Maarten Heineken Regatta are very happy to announce that entries are now open for the 2015 Regatta, taking place March 5 - 8. The team hopes to see lots of return entries as well as new ones this year, all coming to celebrate the event's 35th year. In order to celebrate this milestone year, there will be some new features this coming season. ... [more]  

After three complete days at sea only three boats competing in the 2014 Rolex Middle Sea Race have passed the northwest tip of Sicily, roughly the halfway point of the race. The prevailing wind remains weak, but is expected to strengthen this afternoon coinciding with the arrival of bulk of the fleet t the Egadi Islands. ... [more]  

Last week the Volvo Ocean Race was all about VMG downwind sailing, with Dongfeng being the star performer. After DFRT took the lead, they shortly lost it again 36 hours later after hitting something in the water and losing their rudder. Two hours later they were up and running again with the spare in. Impressive stuff. ... [more]  

Volvo Ocean Race: Blogs from the Boats - Leg 1, Day 9 plus Videos *Feature by Richard Gladwell/Sail-World.nz/com
Several of the On Board Reporters aboard, provide their unique views of Leg 1, Day 9 of the Volvo Ocean Race - in text, images and video. ... [more]  

Rolex Middle Sea Race 2014 - Fight to the finish by Media Royal Malta Yacht Club
Igor Simicic's maxi, Esimit Europa 2 is expected to finish the Rolex Middle Sea Race in the early hours of tomorrow morning. However the 100ft carbon fibre canting keel Maxi is under serious pressure to secure their fourth Line Honours victory in the race. ... [more]  

Italy won two races (windward-leeward race (ninth race) and coastal race (11th race), Switzerland won the second race of the day (10th race) and Ireland the last one (12th race). A lot of tactics was required to make best use of the little wind. The first race (windward-leeward race, 0,8nm) started at four knots. A second start under black flag happened. ... [more]  

PredictWind have made significant improvements to the swell forecasting models and added new locations. Integrating the new 50km global wind forecast with ocean current data has created the most advanced swell modelling available online. By combining PredictWind forecast data with ocean current data, the effect of the wind on swells can be accounted for ... [more]  

The battle continues for the lead in the Volvo Ocean Race, with the front running being taken up by different competitors on a regular basis. With the first boats about to enter the Doldrums, anything can happen - with the outcome being decided by navigational skill and experience, rather than being resolved on a computer. ... [more]  

The Renaissance Re Junior Gold Cup, now in its 12th year, is known around the world as an international championship of junior champions. It runs parallel to the penultimate event on the World Match Racing Tour, the Argo Group Gold Cup. ... [more]  

Volvo Ocean Race: Fleet charges the door of the Doldrums Casino *Feature by Richard Gladwell/Sail-World.com/nz
The Volvo Ocean Race has lifted intensity again on Day 9 with the fleet spread across 100nm of ocean and charging in a line for the turning point of Fernando de Noronha, 220nm off the Brazilian coast. ... [more]  

As expected the third day of the 2014 La Torche PWA Grand Slam proved to be a quiet affair with very light winds throughout the day. After a chilly and overcast start, the sun eventually broke through to produce another beautiful afternoon in La Torche. ... [more]  

The first eight days of the 2014-15 Volvo Ocean Race have been filled with more excitement and tighter racing than anyone could have anticipated. Up until Saturday morning, Leg One has left the fleet with few tactical options and therefore has kept everyone tightly packed as one unit of seven boats. ... [more]  

Volvo Ocean Race 2014-15. The sun’s out. It’s warm – not too hot, but warm enough for just a tee shirt. Ian Walker is stood at the helm of his Emirati boat, generous Atlantic trade winds whistling past his ears. 'We’re going straight through,' he claims, confidently. 'What Doldrums? - they’re going to say. Azzam isn’t even going to slow down.' ... [more]  

At 1700 CET in the Rolex Middle Sea Race, 113 yachts had rounded Stromboli, the active volcano that marks the most northerly point of the course. Race leader on the water, Esimit Europa 2, was less than 20 miles from Favignana and preparing to turn south with 289 miles to go and is expected to finish the race in the early hours of Wednesday 22 October, which would be well outside the course record ... [more]  

It is with great pleasure that the Star Sailors League announces that two more top Brazilian sailors will be joining the fleet of 20 super-champions taking part in the Star Sailors League Finals 2014 being held for the second consecutive year at Nassau Yacht Club in the Bahamas between December 1st and 7th. ... [more]  

Volvo Ocean Race 2014-15, Day Nine onboard Team Alvimedica. It’s hard to explain the complexity of the weather in this part of the world. No computer model or forecaster can accurately predict the winds because the air here is dry and warm, 23c now, and the typical barometric pressure gradients that generate them become very weak. ... [more]  

Volvo Ocean Race 2014-15, Day Nine onboard Team SCA. We’re a boat on a mission: catch the fleet. And they’re getting closer by the mile. The first time I sailed past Cape Verde islands was in 2010 when I was helping deliver a catamaran from Gibraltar to Antigua, W.I. ... [more]  

Thailand bids for 2016 IODA ‘Optimist’ World Championships by Jordan Rumsby, Royal Varuna Yacht Club
Pattaya's Royal Varuna Yacht Club has submitted a bid to host the 2016 International Optimist Dinghy Association World Championships, offering the world's most talented junior sailing teams a chance to experience the steady wind, sunshine, smiles, great food, and family-friendly attractions of Thailand's top dinghy sailing destination ... [more]  

Photographer Ellen Hoke was on the water at the Farr 40 Worlds sailed from the St Francis Yacht Club, San Francisco, and provided this second gallery of images from the Final Day - Day 4 Prizegiving ... [more]  

Bill Green - builder and sailor passes on by Malcolm McKeag, Scuttlebutt Europe, Lymington, England:
Bill Green, San Francisco-born sailor, Navy jet jockey (not a lot of people know that); US Coastguard; shrimp-boat hand (not a lot of people know that either); One Ton Cup winner and most latterly proprietor of Green Marine slipped quietly away from this life ... [more]  

Tom Burton (AUS) retained World #1 in the Laser after a tremendous fight back at ISAF Sailing World Cup Qingdao where he picked up bronze. The Australia had a tough opening day, finishing down the pack in both races but as the week progressed he worked his way up and sealed bronze on the final day to keep hold of World #1. ... [more]  

Photographer Ellen Hoke was on the water at the Farr 40 Worlds sailed from the St Francis Yacht Club, San Francisco, and provided this gallery of images from the Final Day - Day 4 ... [more]  

Farr 40 Worlds: Images from Day 2 in San Francisco *Feature
Rolex Middle Sea Race 2014 - A hard day's night
34th Student Yachting World Cup 2014 - Second race day
Volvo Ocean Race: Dongfeng loses lead, anyone's race ahead of Doldrums *Feature
Flying Dreams 'An Ocean Story': The Movie
New super maxis gear up for Rolex Sydney Hobart
Volvo Ocean Race: Blogs from the Boats - Leg 1, Day 8 plus Videos *Feature
Linda Elias Memorial Women’s One Design Challenge - Youngerman wins
2014 Off Valparaíso Race - Santander team victorious
La Torche PWA Grand Slam - Waves continue to pound on day 2
Volvo Ocean Race: Dongfeng consolidates lead on Day 8 *Feature
RS:X Youth World Championships - All set for Clearwater action
Rolex Middle Sea Race 2014 - Slow road north
Volvo Ocean Race 2014-15 – Dongfeng Race Team - A risky call
Rolex Middle Sea Race 2014 - Escaping the shroud of Mount Etna
Farr 40 Worlds: Day 4 Image and Video gallery *Feature
Australian 18 Footers League’s Major A. Frizelle Trophy
Volvo Ocean Race 2014-15 - Leader gambles on Island windshadow
2014 Sailing World Cup Qingdao - Final day video highlights
2014 Rolex Farr 40 World Championship - Plenty of time
Coast Guard rescues two near Wachapreague   
2014 Off Valparaíso Race - Day 2   
La Torche PWA Grand Slam - Massive swell on day 1   
Volvo Ocean Race: Welcome to Al's Ocean Cafe   
Argo Group Gold Cup survives Hurricane Gonzalo   
Volvo Ocean Race: Dongfeng regains lead after incident packed Day 7 *Feature   
Volvo Ocean Race: Dramatic video of Dongfeng rudder replacement   
Volvo Ocean Race - Team Alvimedica bounces back   
Volvo Ocean Race - Team SCA expecting the expected + Video   
Rolex Middle Sea Race - New record for Mediterranean classic   
ISAF Sailing World Cup Qingdao - Medallists decided across six fleets   
Volvo Ocean Race - Impressive turnaround for Dongfeng Race Team +Video   
Volvo Ocean Race: Race closer than leaderboard suggests - Leg 1, Day 6   
Volvo Ocean Race: Dongfeng Race Team break rudder after collision   
2014 Rolex Farr 40 World Championship - Famous breeze frustrates   
2014 Off Valparaíso Race - Day 1   
Sunfish World Championship - Victory for Argentina's Francisco Renna   
Volvo Ocean Race - Feeling the pressure six days in   
Volvo Ocean Race - Alvimedica cautiously cruising down coast of Africa   
Volvo Ocean Race - Team Brunel still within striking distance   


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