sail-world.com
 
 
News Home Cruising Photo Gallery Video Gallery
Sail-World.com : Collinson FX Market Commentary: December 19, 2012 - Santa Rally
Collinson FX Market Commentary: December 19, 2012 - Santa Rally

'2008 Flashback Carl Evans and 2012 Olympic Silver medalist Peter Burling (NZL), the youngest crew to ever compete at an Olympics sailing in the first races of 2008 Olympic Regatta.'    Richard Gladwell ©    Click Here to view large photo

Collinson FX market Commentary: December 19, 2012

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

The 'Santa Rally' continued with positive news from Europe and rising hopes in the Fiscal Cliff negotiations. In Europe, S&P raised the outlook raising Greek debt rating from Junk Bond status, clearly believing in the commitment of EU leaders.

The EUR rallied to 1.3225 and the GBP 1.6250 with the usual positive season sentiments flowing through markets. Most Politicians are off the stage and the lack of presence certainly raises positive market vibes. The sheer lack of faith in Politicians from both the left and right have reinforced the crumbling support of institutions that have built Western nations.

The entitlement society has dragged Western democracies into the toilet with debt overwhelming the viability of nations. In the US, the White House rejected the Boehner offer to raise taxes on those earning over $1 Million and allow Bush taxes to remain. Obama has not offered significant spending cuts that are the root of the crises. Remember these revenues and cuts are multiplied by 10 as they are talking about a ten year budgetary period.

Why not talk in multiple of 100 so the numbers can become even more meaningless and relevant. To put this in perspective....the US Government is more than $1 Trillion p.a.($10 Trillion 10 year) and they are proposing cuts of $100 Billion ($1 Trillion 10 year)! Keep in mind these cuts are not actual cuts but cuts to growth in expenditure already budgeted. This will not even slow the compounding growth of the deficit and debt that will overwhelm the nations finances in the short term.

Meanwhile the Christmas rally continues with the seasonal rally in equities. Commodities failed to respond to the Christmas spirit and remained steady. The AUD held 1.0530 and the KIWI 0.8425 with markets trading very thin volume over the holiday season. This is likely to continue until participants return in the New Year with any deal in the Fiscal Cliff negotiations likely to be marginal.

2008 Flashback 2012 Olympic Gold medalist Jo Aleh, sailing in the 2008 Laser Radial World Championships off Takapuna Boating Club -  Richard Gladwell_©   Click Here to view large photo


Collinson FX market Commentary: December 18, 2012

The last full trading week before Christmas promises to be light in trading volume with only major Eco-political events having an impact. Today stocks rallied after positive news from the Fiscal Cliff negotiations. Speaker Boehner has offered further considerations in form of a tax rise on those earning $1,000,000 plus.

Obama has not agreed but the continued bi-partisanship from the Republicans may force his hand. His form has offered precedence and has not always been in line with popular demand so expectations must be reserved with Democrats cocky after the recent election. Equities rallied on the developments and the currencies remained attracted to risk. The EUR traded 1.3150 with Merkel commenting on necessary structural reforms that must be addressed.

She spoke of the over generous welfare/entitlement societies that are drowning Western nations in debt. This sacred cow will be heavily resisted by the left but the simple fact of a fall in the number of tax payers does not allow such largesse. In the US, The Empire Manufacturing Survey continued to degenerate falling a further 8.1% but economic data was swamped by political negotiations.

The Santa Rally resumed with no fundamental moves expected this side of the New year apart from Fiscal Cliff developments. The AUD remained steady trading over 1.0500 and the KIWI 0.8400 reflecting the strong appetite for risk in the face of a devastated Big Dollar.

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=104839

8:51 AM Wed 19 Dec 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:

15 Dec 2012  Collinson FX Market Commentary: December 16, 2012 - Overhanging cliff
14 Dec 2012  Collinson FX Market Commentary: December 14, 2012 - Reality check
13 Dec 2012  Collinson FX Market Commentary: December 13, 2012 - Confidence surges
12 Dec 2012  Collinson FX Market Commentary: December 12, 2012 - Xmas rally stays
11 Dec 2012  Collinson FX Market Commentary: December 11, 2012 - Market rally
09 Dec 2012  Collinson FX Market Commentary: December 7, 2012 - NZD breaks 83c mark
06 Dec 2012  Collinson FX Market Commentary: December 6, 2012 - No change in NZ
05 Dec 2012  Collinson FX Market Commentary: December 5, 2012 - Equity markets flat
04 Dec 2012  Collinson FX Market Commentary: December 4, 2012 - Good news ex China
30 Nov 2012  Collinson FX Market Commentary: November 30, 2012 - EUR Markets quiet
MORE STORIES ...




News - USA and the World



Volvo Ocean Race: Update from Team Vestas Wind in images by Richard Gladwell/Sail-World.com/nz,








Audi Melges 20 World Championship - Classic Garda conditions on day 2 by International Audi Melges 20 Class Association,
























Audi Melges 20 World Championship - Alessandro Rombelli's 'STIG' leads by International Audi Melges 20 Class Association,




























Aldo Alessio Regatta - Three days of tight racing by Erik Simonson, Pressure-Drop.US,




Oakcliff Sailing hosts the Nacra 17, 49er and 49erFX Nationals + Video
International 18ft Skiff Regatta underway on San Francisco Bay
Maxi Yacht Rolex Cup 2014 - Quality fleet for Maxi Classic
Sailing Champions League - which is Europe's best sailing club?
Weta fun at the Wine & Roses Regatta
Extreme Sailing Series: The Wave, Muscat claims victory on Cardiff Bay
International 14 World Championships 2015: Not just for boys
Rio de Janeiro achieves 50% treatment of sewage outflow *Feature
2014 AWT Quatro Desert Showdown - Event memorable videos
2014 18' Skiff Int Regatta: Day 1 at San Francisco - Reversal on beach
Emirates Team NZ: Last race boost cannot save team from table bottom
PWA Alacati World Cup - Furious slalom is upon us
J/111 World Championships - The Winner is Shmokin Joe!
J/24 US National Championship - Victory for Will Welles’ Cougar
Extreme Sailing Series: View the Final Day's action - Replay
NYYC Grandmasters Team Race - Reign continues for Noroton Yacht Club
WSSR announces new World Record Around Britain and Ireland
IFDS Worlds 2014 - Final day photos by Tim Wilkes
2014 Detroit Cup - Morvan wins
Newport Bucket Regatta 2014 -Images by George Bekris
IFDS Worlds 2014 - Final report: USA qualifies for Rio 2016   
Extreme Sailing Series: Absent With-Out Leave – Ben Ainslie Racing   
2014 IFDS World Championship - New champions claim medals   
2014 IFDS World Championships - Sunday’s race images by Tim Wilkes   
Shark World Championships underway in Toronto   
Anna Tunnicliffe: Alinghi second o'all - Extreme Sailing Series, Day 3   
Formula Kite World Championships - Nocher and Bridge crowned Champions   
Emirates Team NZ: Frustrating Day 3 in Extreme Sailing Series, Cardiff   
Extreme Sailing Series: Light winds help The Wave Muscat - Day 3   
Extreme Sailing Series 2014 Act five - Absent without leave – the wind   
IFDS Worlds 2014 - Images: Race day five   
Herreshoff Classic Regatta 2014 - Images by Ingrid Abery   
Youth Olympics - Gold to Argentinean and Chinese Techno 293 racers   
Youth Olympics Games Nanjing - Double Youth Olympic Gold for Singapore   
Sevenstar Round Britain and Ireland Race 2014 - Two Handers celebrate   
Audi Melges 20 U.S. National Championship 2014 - Brazilian dance party   
IFDS Disabled Sailing Worlds Day 5 - USA fighting for Rio 2016 Berths   
J/111 World Championship 2014 - Day 4: Shmokin Joe consolidates lead   
Anna Tunnicliffe: Alinghi on top - Extreme Sailing Series, Day 2   
2014 IFDS World Championships - Breezy frustrations   


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 VIR US
LocalAds   DE  ES  FR  IT