sail-world.com
 
 
News Home Cruising Photo Gallery Video Gallery
Sail-World.com : Collinson FX Market Commentary: October 25, 2012 - Markets steady
Collinson FX Market Commentary: October 25, 2012 - Markets steady

'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

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

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=103162

8:28 PM Wed 24 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:

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
07 Oct 2012  Collinson FX Market Commentary: October 6, 2012 - US Boost
MORE STORIES ...




News - USA and the World

















International Moth Worlds - Mothballed on day 4 + Video by Mark Jardine / YachtsandYachting.com,




Gladwell's Line: A change of direction needed in the America's Cup *Feature by Richard Gladwell/Sail-World.com/nz,
























Anna Tunnicliffe set to compete at the CrossFit Games by Anna Tunnicliffe, Pittsburgh, PA






















Flying Dutchman World Championships - Magyars are the Masters
Final day shakes up standings at Cape Panwa Hotel Phuket Raceweek
2014 -15 Volvo Ocean Race: Team Alvimedica pushing towards Southampton
NYYC Race Week - Saving the best for last
VX One North American Championship - Chris Alexander commands
2014 Cape Panwa Hotel Phuket Raceweek - Waiting game on Day 3
International Moth Worlds: Thunderstorms delay racing on Day 1
Fuerteventura World Cup - Impressive tricks on day 1
2014 Governor's Cup - Two former winners in the finals
America's Cup: Iain Murray explains reasons for Australian withdrawal *Feature
Wilson and Roble remain number one match racers in U.S.
2014 ISAF Youth Match Racing World Championship - Set to start
PWA Pozo World Cup - Moreno twins dominate home spot
ISAF Youth Worlds - Record breaking regatta in Tavira + Video
Melges 32 European Championship - Robertissima remains out front
Farr 40 West Coast Championship - Italians take one-point lead
Melges 32 European Championship - Day 3 images by Carlo Borlenghi
New York Yacht Club Race Week - Marstrom 32 fleet off to anxious start
Melges 32 European Championship - Day 3 images by Max Ranchi
CYC Race to Mackinac - Cruising fleet sets sail in 106th edition
Team Alvimedica getting a touchup   
PWA Pozo World Cup - Plenty of drama on day 5   
ISAF Youth Sailing World Championship - Day 5 Videos   
NYYC Race Week - High performance classes put on shoreside show   
2014 Pacific Cup - 'Invisible Hand' the first boat to finish   
Clipper Round the World Yacht Race - B.C.'s Eric Holden skippers wins   
America's Cup: Updates on Team Australia withdraw   
J/70 North American titles - Brian Keane moves to top of leaderboard   
2016-2017 America's Cup - Team Australia withdraws   
VX One North American Championship - Chris Alexander takes charge   
America's Cup: Team NZ disappointed, but on track after Australians go   
America's Cup: Hamilton Island decides not to proceed with Challenge.   
America's Cup: Challenger of Record withdraws from Regatta   
WWA Wakeboard National Championships head to Waco   
Farr 40 West Coast Championship - Day 2   
RP52 Scarlet Runner sails in San Francisco   
2014 Governor's Cup - Nevin Snow and team on form   
ISAF Youth Worlds - Americans claim silver medals in Tavira   
2014 Cape Panwa Hotel Phuket Raceweek - Day 1   
Melges 32 European Championship - Day 2 images by Carlo Borlenghi   


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