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Sail-World.com : Collinson FX Market Commentary: April 29, 2013 - KIWI market darling
Collinson FX Market Commentary: April 29, 2013 - KIWI market darling


'Multihull start - 2013 Auckland Cup, Day 2'    Richard Gladwell ©    Click Here to view large photo

Collinson FX market Commentary: April 26, 2013

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US GDP data frightened many equity investors as markets fell flat. First quarter growth in the US was 0.4% and an annualised rate of 2.5% below the expected 3%. The news was not surprising as economic fundamentals have been weak all year despite the much vaunted 'housing recovery!'

Data will be out this coming week placing some doubt on market forecasts in the leading indicator that is housing.

This coming week will look closely at this and pay close attention to the Fed's rate decision and the ECB, who are expected to cut rates as Europe continues to battle recession. The EUR held above 1.3000 and the GBP looks set to test 1.5500! Risk appetite has fallen recently despite the continuing flood of liquidity being pumped into the US, Japan and the EC.

The major employment reports will also be released in the US which will probably confirm the stagnation in the worlds largest economy. Commodities remain bid supporting the AUD at 1.0275 but this will be vulnerable to any major equity correction in May!.

The KIWI continues to gain support and has become a market darling trading up around the 0.8500 but this too will suffer uncertainty in Equities and risk markets!

For more on Collinson FX and market information see:
www.collinsonfx.com and www.collinsonwealthmanagement.com

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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

  

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12:43 PM Mon 29 Apr 2013GMT


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