sail-world.com
 
 
News Home Cruising Photo Gallery Video Gallery
Sail-World.com : Collinson FX Market Commentary: November 30, 2012 - EUR Markets quiet
Collinson FX Market Commentary: November 30, 2012 - EUR Markets quiet

'Image of the Day Mike Golding on board Gamesa - 2012 Vendee Globe'    Mike Golding Yacht Racing ©

Collinson FX market Commentary: November 30, 2012

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

Markets were relatively quiet with no major developments from Europe or in negotiations over the Fiscal Cliff. House Leader Boehner has commented that Obama must get serious and that there was no substantial progress.

It is political posturing from leaders and no real desire to act. Many on the left are content to see tax cuts expire and those that are not, are keen to play games of brinkmanship. Economic news was better, boosting equity markets with GDP rising from 2% to 2.7%. Weekly Jobless Claims fell and Pending Home Sales rose 5.2%.

The Dollar posted gains across the board with the EUR falling to 1.2950 and the AUD 1.0400. NZ Business Confidence rose to 26.4 which maintained the KIWI trading just under 0.8200.

It would require major changes in economic news to drive equities or currencies in any major breakouts. Markets will continue to follow Fiscal Cliff negotiations and EU debt crises developments.

Image of the Day Vendee Globe - Macif skipper Francois Gabart (FRA) -  Vincent Curutchet / DPPI / Vendée Globe ©   Click Here to view large photo

Collinson FX market Commentary: November 29, 2012

Markets now move depending on the way the wind is blowing in relation to the EU crises and Fiscal Cliff negotiations.

Equities were lower earlier after doubts regarding the Greek solution started to emerge in the media. Reports that Greek debt holders would again be required to take debt write-offs undermining the new deal and future solutions.

The EC look set to provide EUR$40 Billion to bail-out the nationalised Spanish Banks relieving some pressures. Markets turned positive after Obama indicated a deal would be done prior to Christmas to avert the Fiscal Cliff. House Leader Boehner was also in a positive frame of mind with revenue on the table under the proviso of no rate rises. This will probably remain the determinant of market direction until a deal is struck.

New Home Sales in the US fell 0.3% and Weekly Mortgage Applications dropped 0.9% contradicted the Home Price Index numbers yesterday. The Biege Book will be released today and will probably show what it always does. Weak growth and a slow recovery!

The EUR traded 1.2930 and the GBP 1.6000 unchanged as economic news was countered by sentiment.

Commodities remain steady with the AUD 1.0475 and the KIWI 0.8233 as confidence returns and demand rises. Political developments will continue to dominate market direction.

Team Jolly blasting to the finish line on the Weymouth Bay course - 2012 Olympic regatta  Richard Gladwell_©   Click Here to view large photo

Collinson FX market Commentary: November 28, 2012
Good news from Europe where a deal was reached over the Greek debt crises. No solution but a postponement of the problem allowing the EU time for an economic recovery. The agreement cuts interest rates on outstanding debt, defers payment of said interest payments and extends the maturities of the debt.

To put this in to perspective the EU and IMF have basically waved the cost of the debt for the forseeable future thereby alleviating the pressure on Greece all the while adding to that debt by extending further loans to enable the state to run.

The next step will be to write-off that debt which would be the last measure and detroy what little credibility the EU/IMF have. Now they will look to addressing the crises in Spain and Italy who will demand similar terms under precedence.

Unlimited cost free funding which can only be funded by monetary expansion triggering inflationary pressures which will destroy the single currency and mortally wound the EC.

Political ill-will and procrastination drives Europe to a far bigger cliff than the US face. The EUR traded 1.2935 with the GBP 1.6020 looking vulnerable. In the US, talks around Fiscal Cliff negotiations appear to be heading in the wrong direction with growing pressure from Democrats to ignore fiscal cuts and extend taxes.

The left seems committed to driving America into Socialism and dependency which will lead to destruction as it had in Europe.

The Case Shiller Home Price Index rose again offering some good news with a rise in Consumer Confidence boosting hopes, although durable good orders were flat.

The AUD held 1.0450 and the KIWI 0.8200 but the looming crises in the US adds to downward pressures.

HK Dragon Champs 2012  Joyce Ravara/RHKYC   Click Here to view large photo

Collinson FX market Commentary: November 27, 2012

Stocks opened the new week in the US lower with growing doubts about evasion of the fiscal cliff. Politicians are toying with the fiscal cliff with many seeing tax rises and cuts to defense as more than just palatable, attractive even.

Democrats are expected to be divided over this and a grand coalition of post-election euphoria is disappointing quickly. Obama may hobble an agreement but taxes will rise and entitlement spending will continue to spiral out of control. In Europe, EU members failed to agree on the new seven year budget but all managed some successful photo opportunities. EU Finance Ministers gathered to approve the release of the next tranche of the Greek Bailout.

Debt has overwhelmed the country with GDP contracting thus preventing the servicing of existing debt at discount interest rates. The next step will be an interest rate moratorium followed by debt write downs. This is a broken state and the continued support is untenable but preferable to the collapse of the single currency. The EUR trades below 1.3000 while the GBP holds 1.6000. In the US the Dallas Fed's Manufacturing Activity Index contracted 2.8 and the Chicago Feds Activity Index also fell 0.56.

Economic data will not be great short term and Political procrastination should ensure a return to global recession by the new year. Doha Global Climate Change should sort out the Earths warming by taxing the richer nations providing some relief. It is working well in Australia with the largest global Carbon Tax reducing temperatures to sooth the populace!

Commodities remain steady with the AUD holding above 1.0400 and the KIWI just under 0.8200.

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=104255

9:20 AM Fri 30 Nov 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 Nov 2012  Collinson FX Market Commentary: November 29, 2012 - Market windshifts
28 Nov 2012  Collinson FX Market Commentary: November 28, 2012 - Good news from EUR
27 Nov 2012  Collinson FX Market Commentary: November 27, 2012 - Fiscal Cliff looms
24 Nov 2012  Collinson FX Market Commentary: November 23, 2012 - Surge in Equities
22 Nov 2012  Collinson FX Market Commentary: November 22, 2012 - Lift in Equities
21 Nov 2012  Collinson FX Market Commentary: November 21, 2012 - France downgraded
18 Nov 2012  Collinson FX Market Commentary: November 17, 2012 - Deal on Cliff?
16 Nov 2012  Collinson FX Market Commentary: November 16, 2012 - Billions shed
15 Nov 2012  Collinson FX Market Commentary: November 15, 2012 - Economic revolt
13 Nov 2012  Collinson FX Market Commentary: November 13, 2012 - Light Veterans Day
MORE STORIES ...




News - USA and the World

Three America's Cup sailors have been named in the top 20 sports earners, in a list published in the New Zealand Herald this week. Topping the list is Sir Russell Coutts with a claimed earnings of $13million. He is just a $1million ahead of an English Premier League player, Winston Reid, and motor racing ace, Scott Dixon. All Black captain, Ritchie McCaw is ranked #5. ... [more]  

Melges 32 World Championship - Prepare for off-the-charts action by International Melges 32 Class Association
Entering its sixth World Championship season, the International Melges 32 Class Association has raced at arguably every world-class venue on the globe, has seen the most respected pro and amateur sailors on its courses and most importantly, learned valuable lessons of what owners and sailors want so that the Melges 32 continues to be strongest one design grand prix sportboat on the planet. ... [more]  

The Notice of Race for ISAF Sailing World Cup Miami, scheduled for 25-31 January 2015, has been released. On-line entry will open on 10 November 2014. The deadline for priority entries with regards to quotas is 5 December 2014. Entries must be received no later than 5 January 2015 to qualify for early entry. ... [more]  

With light winds continuing to dominate on day six of the Davidoff Cool Water Sylt PWA Super Grand Slam, the decision was made to begin the Reno SUP Challenge during the afternoon, which saw twelve teams battling it out in heats of two for a place in tomorrow’s final, to keep the crowds entertained. ... [more]  

Photographer Carlo Borlenghi was on deck for day three of Les Voiles de Saint Tropez to capture these stunning images of the action. ... [more]  

The IFDS Rankings for Paralympic Classes have been released. It's a British 1-2 at the top of the 2.4mR Rankings with Megan Pascoe at world number one and Helena Lucas at world number two. 2014 World Champion Heiko Kroger (GER) sits at world number seven but counts less regattas than those above him. ... [more]  

The International Sailing Federation (ISAF) and Rolex are happy to reveal the Nominees for the ISAF Rolex World Sailor of the Year Awards 2014. ISAF received nominations for the 2014 Awards from across the world for sailors representing all aspects of the sport. ... [more]  

Like the name implies, the goal of the boater-funded BoatUS Foundation for Boating Safety and Clean Water is to educate boaters about safe and clean boating. The Foundation is looking to fund Grassroots Grant projects that utilize new, innovative approaches that encourage safe and clean boating among the boating public. ... [more]  

The 35th edition of the Rolex Middle Sea Race is fast approaching and appears likely to rewrite the record books. Entries are shortly due to close and the Royal Malta Yacht Club is already bracing itself for the biggest fleet to grace its island home since the Great Siege of 1565. The Ottoman Armada of 450 years ago was recorded to be 193 in strength. ... [more]  

A stellar list of just under 100 broadcasters has been lined up to showcase the world’s toughest ocean challenge, the Volvo Ocean Race 2014-15, to a new global audience of fans. The 12th edition has offered channels a line-up of a new 39-part weekly half-hour show plus special short bespoke features. ... [more]  

Photographer Eugenia Bakunova of leading Russian website www.mainsail.ru was on the water at Les Voiles de Saint Tropez on the French Riveria , and provided this gallery of images of the classics and other yachts racing on Day 2 ... [more]  

New Ragamuffin 100 emerges from the hull build in Nowra *Feature by Richard Gladwell/Sail-World.com/nz
Ragamuffin 100, which started out as a modified Elliott design, Maximus, is another supermaxi undergoing a major rebuild or retrofit. Across the Tasman, the new Ragamuffin 100 will be virtually a new boat with a a new hull design by Andy Dovell / Syd Fischer / David Witt. The hull mould and shell was built by Innovation Composites at the Nowra facility. ... [more]  

Southern Spars ships the world's tallest masts by Richard Gladwell, Sail-World.com/nz
Leading world sparmaker, Southern Spars, has shipped two spars for a new 85 metre ketch. The superyacht will carry two 93metre masts which will be the world’s tallest rigs on one gigantic yacht. ... [more]  

Professional sailing photographers from all over the world are invited to join the Mirabaud Yacht Racing Image award 2014. Started in 2009, the Mirabaud Yacht Racing Image is the world’s premier photography competition dedicated to the sport of sailing. The prestigious trophy will be awarded during the World Yacht Racing Forum in Barcelona, on December 11, 2014. ... [more]  

David Kellett (AUS) is to be awarded the ISAF Beppe Croce Trophy which honours an individual for their outstanding voluntary contribution to the sport of sailing. The ISAF Beppe Croce Trophy, first presented in 1988 in memory of Beppe Croce, the ISAF President from 1969 to 1986, will be presented to Kellett at the 2014 ISAF Annual Conference in Palma de Mallorca, Spain. ... [more]  

After being graced with plenty of late summer sunshine during the opening days of the event, more autumnal weather moved in on the fifth day of the Davidoff Cool Water Sylt PWA Super Grand Slam with grey skies and infrequent showers. Unfortunately though the light winds continued as the sailors endured another lay day. ... [more]  

In a move that is expected to benefit recreational boaters, on Oct. 22 the US Coast Guard will drop the current life jacket type code scheme -- Type I, II, III, IV and V -- that has been used for years to label and differentiate the types of life jackets and their specific use. ... [more]  

Kate Nota and her team onboard the J/111 Odyssey won the Ripple Effect Short Video Contest, which was part of the Ida Lewis Distance Race this summer (August 15). ... [more]  

The largest Laser World Championship in history will be taking place on the south coast of France when 515 sailors, representing 36 different countries, begin racing on October 5 to open the 2014 Audi Laser Masters’ World Championships. The Laser remains one of the best and most popular boats worldwide in which to enjoy the sport of sailing. ... [more]  

Carlo Borlenghi was back on the water for day two at Les Voiles de Saint-Tropez to capture these images. ... [more]  

It has been an interesting journey so far for the Chinese team in the Volvo Ocean Race, Dongfeng Race Team. Approximately 10 months ago this team set out on a mission to select and train Chinese recruits in the hope that they would be ‘race ready’ for the start of leg 1 of the Volvo Ocean Race 2014-15. ... [more]  

Volvo Ocean Race fans can now carry the world’s toughest ocean race in their pocket, thanks to the launch of a new official mobile app. Developed for both iOS and Android systems, the app is available for download from the App Store and Google Play now – and boasts a host of exciting features which will allow users to be closer to the on-water adventure than ever before. ... [more]  

Race teams planning next season’s calendar could do worse than sign up for the Mount Gay Round Barbados Race Series 2015 which runs from 16-24 January. This event, which kick starts the Caribbean race season, was re-launched in 2014 with a new race format and plenty of record-breaking opportunities. It proved such a success that an even bigger entry is expected in 2015. ... [more]  

Photographer Eugenia Bakunova of leading Russian website www.mainsail.ru was on the water at Les Voiles de Saint Tropez on the French Riveria , and provided this gallery of images of the classics and other yachts racing ... [more]  

Sunset+Vine|APP, the Oxford-based unit of the multi-award winning UK independent TV sports production and media company Sunset+Vine, has helped ISAF smash all previous broadcaster records for the recent Santander 2014 ISAF Sailing World Championships. ... [more]  

2014 ISAF Sailing World Cup - Melbourne - Don’t forget to enter the ISAF Sailing World Cup – Melbourne. There are only two days left to take advantage of the discounted entry price offer. ... [more]  

2014 12 Metre North American Championships - Two days of a northerly (first strong, then light) and one day of a building southwesterly put six 12 Metre yachts to the test at their North American Championships, which were held off Newport, R.I. over September 26-28. Gunther Buerman’s (Newport, R.I.) KZ-3 and Dennis Williams’ (Hobe Sound, Fla.) Victory ’83 defended their titles ... [more]  

The waiting game continued on day four of the Davidoff Cool Water Sylt PWA Super Grand Slam as the light winds continued. Over the course of the day a few sailors took the opportunity to make the most of the small waves on offer, either surfing or SUPping. After spending the day on hold the sailors were released at 4:30pm. ... [more]  

After Gmunden, Austria, in 2011 and Cala de' Medici, Italy, in 2012 and after a pained second place, same points with the Portogues 'Credite Egs' in Portosin, Spain, last year, the Italian crew coming from Puglia 'Euz II Monella Vagabonda', with Sandro Montefusco at the helm and his brother Paolo as a tactician, confirms for the third time the Platu 25 World Championship title. ... [more]  

Carlo Borlenghi was on deck for the first day of competition at Les Voiles de Saint-Tropez to capture these images. ... [more]  

Photographer Ingrid Abery was on site for day one of racing at the 2014 Les Voiles de Saint Tropez to capture these images. ... [more]  

The final day of the 2014 U.S. Team Racing Championship ended up being a half day of sailing due to a complete shutdown of the wind. However, the fleet completed enough races to count Gold Round Robin 3 and crown Ladies and Gentlemen as the back-to-back Team Racing Champions. ... [more]  

Michigan, the Great Lakes State, was a fitting location as The National Sailing Hall of Fame (NSHOF) gathered for the fourth time in the organization’s history to fulfill its mission to recognize Americans who have made outstanding contributions to the sport of sailing. ... [more]  

2016 ISAF Youth Match Racing Worlds - Bid guidelines now published
Volvo Ocean Race: Last medical training for the onboard sailors +Video
2014 Melges 20 Pacific Coast Championship - Images by Erik Simonson
J/105 North American Champs- Rod Wilmer and Terry McLaughlin succeeds
Extreme Sailing Series: Burling and Tuke back on board for Nice Act
2014 Buddy Melges Challenge - Lotte Meldgaard Pedersen wins US event
America's Cup: Oracle Team USA's AC72 takes to the streets
Alpari World Match Racing Tour - Canfield wins first Dutch Match Cup
Pantaenius and Camper & Nicholsons Marinas become strategic partners
Kite Foil Gold Cup Australia 2014 – Day two video
Bart's Bash: Update and Video - Information overload!
2014 U.S. Team Racing Championship - Day 2
2014 Buddy Melges Challenge - USA leads Denmark in Sheboygan final
2014 U.S. Adult Sailing Championship - Benz Faget wins third mallory
J/105 North American Champ - Wilmer/McLaughlin team maintain advantage
Images from Cannes: Régates Royales – Trophée Panerai
Régates Royales – Trophée Panerai: Cannes at its best
Dutch Match Cup - Gilmour keeps clean sheet in Lelystad
Dutch Match Cup - GAC Pindar through to fifth consecutive semi-final
Hobie 16 Open North Americans and 2015 Pan Am Games qualifier overall
Volvo Ocean Race - Frostad on Boat Design and final changes (Part II) *Feature   
Volvo Ocean Race 10 days to go – Frostad on cultural change (Part I) *Feature   
2014-15 Volvo Ocean Race on NBC Sports Network in the U.S.   
2014 J/24 World Championship - Will Welles’ Cougar clinches   
2014 Buddy Melges Challenge - Meldgaard and Le Berre ready for semis   
2014 U.S. Adult Sailing Championship - Day 3   
2014 U.S. Team Racing Championship - Day 1 + Video   
America's Cup: Then and now - Coutts on why Oracle won, and the Venue   
Byte CII World Sailing Championship comes to Royal Varuna, Thailand   
Dutch Match Cup: Canfield wins Qualifying, six set for Quarters battle   
12 Metre North Americans - A blast from the America’s Cup past   
2015 ISAF Sailing World Cup qualification system published   
Volvo Ocean Race: Mapfre named as Spanish team sponsor + Video   
Extreme Sailing Series returns to Nice for the penultimate Act of 2014   
ISAF invites bids for 2016 Women's Match Racing World Championship   
2014 ISAF Sailing World Cup, Melbourne - Teaming up   
Mascalzone Latino Jr. named 2014 Melges 20 European Ranking Champion   
2014 Buddy Melges Challenge - Le Berre keeps winning in Sheboygan   
Hobie 16 Open North American Champ and Pan Am Games Qualifier - Day 4   
2014 U.S. Adult Sailing Championship - Day 2   


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