sail-world.com
 
 
News Home Cruising Photo Gallery Video Gallery
Sail-World.com : Collinson FX Market Commentary: August 9, 2013 - Kiwi close to break
Collinson FX Market Commentary: August 9, 2013 - Kiwi close to break


'Denmark 49er FX - Day 4, Oceanbridge Sail Auckland 2013'    Richard Gladwell ©    Click Here to view large photo

Collinson FX market Commentary: August 9, 2013

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

Markets broke the three day losing streak with improving news from China, Europe and the US. Improving economic news leads to the commencement of QE tapering which has been driving equities lower. Dallas Fed President Fisher has endorsed cutting the monetary stimulus next month assuming 'economic data doesn't significantly deteriorate' but this did not deter market bulls. The EUR continued to rally, with some steady Trade data from Germany, rising to test 1.3400 and the GBP consolidated at 1.5550.

Chinese Trade data surprised on the upside with Imports and Exports both beating expectations. This was a boon for demand dependent commodity currencies with the AUD testing 0.9100 and the KIWI breaking the big, big figure of 0.8000. Australian Employment remained steady at 5.7% although the situation continues to deteriorate as participation falls and job losses add up.

NZ House Prices continue to surge, rising 8.1%, which worries the RBNZ but they can do little about a lack of supply and high building costs! Central Bank activity will continue to drive markets with economic data influencing their actions.

Laser Radial - Day 4, Oceanbridge Sail Auckland 2013 -  Richard Gladwell_©   Click Here to view large photo

Collinson FX market Commentary: August 7, 2013

Markets continues to drift lower overnight with further commentary from Fed members, although the Dollar has gone the wrong way. Equities were lower after Cleveland Fed President observed the labour market improvements may warrant tapering and Chicago President Evans would not rule out tapering in September.

The talk of tapering is usually a buy signal for the USD but that has not happened. The EUR rose to 1.3335 and the GBP 1.5500 with slow improvement on the economic front boosting market perceptions. The KIWI took advantage of the falling Dollar recovering some recent losses to trade around 0.7950.

The AUD has also worked to return to the big, big figure of 0.9000 with lower interest rates a boost to the housing market. Central Banks remain the main driver of equities and currencies and a lull in bond activity has calmed markets although is this may be the precursor to the storm?

29er - Day 4, Oceanbridge Sail Auckland 2013 -  Richard Gladwell_©   Click Here to view large photo

Newsflash: Reserve Bank of Australia cuts the official cash rate by 0.5% to 2.5%. After the rate cut the AUD rose against the USD

Action aplenty across the markets with local news dominating for a change. The Australian election was called Sunday for September 7th and this will finally give the people a chance to select the PM! The chaotic shambles that Labor has lead Australia through has wasted a mining boom and destroyed the fiscal position and budget.

The Reserve Bank will act monetarily today by cutting rates in an attempt to stimulate a flagging economy, but it will take a 0.5% cut to impact markets. The currency has reflected the deteriorating economic and fiscal conditions, falling from 1.0600 to 0.8900 in the last couple of months. The KIWI has also had shocking news with the Fonterra botulism warning. Dairy is the major reason for NZ success in export rebuilding after the GFC and any major hits are likely to have dire effects on the local economy.

The KIWI reflected this with a break in to the 0.77's but recovered overnight to 0.7800. European markets were steady with some flat PMI data and improving economic confidence. Confidence still remains negative and EU Retail Sales contracted 0.9%. US Markets drifted lower with some good news threatening QE infinity. The ISM Non-Manufacturing Index rose to 56 from 52.2, beating expectations, throwing doubts on the continuation of QE Infintiy which was endorsed by Dallas Fed President Fisher.

Equities dipped although the Dollar was steady with the EUR 1.3250. The GBP rallied to 1.5350 after stronger PMI Services data boosted prospects. All eyes will be on the RBA in local markets and global moves will continue to be determined by Central Bank activity and the economic data that drives them.


Collinson FX market Commentary: August 5, 2013

The big news to close the week was a miss in Non-Farm Payroll expectations. The markets were expecting 185,000 but received only 162,000, although the Unemployment rate fell to 7.4% due to falling participation. The news was not good, but the markets took it in their stride with little movement after Bernanke's reassurances earlier in the week.

The EUR traded 1.3275 and the GBP 1.5300. Central Bank support from Europe ad the US has reinvigorated equity markets and continue to inflate the bubble. Commodities drifted as demand from China contracts and economic conditions deteriorate. The AUD now broke below 0.8900 after a string of weak economic data and a massive write down in Budgetary conditions.

The Budget is now in crises and with an election looming (SEPT 7TH) it is hard to see these economic vandals being re-elected! The NZD/USD and its crosses have opened the week considerably lower, than its .7850 close on Saturday am, at .7725 as the news from the Fonterra milk powder crisis hits the airwaves....look for more volatility here as events unfold. This week will continue to be dominated by Central Banks with likely cuts from the RBA!

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=112998

10:42 PM Thu 8 Aug 2013GMT


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:

07 Aug 2013  Collinson FX Market Commentary: August 7, 2013 - KIWI recovers
06 Aug 2013  Collinson FX Market Commentary: August 6, 2013 - Fonterra fallout
05 Aug 2013  Collinson FX Market Commentary: August 5, 2013 - KIWI drops
02 Aug 2013  Collinson FX Market Commentary: August 2, 2013 - ANZAC's dragged down
01 Aug 2013  Collinson FX Market Commentary: August 1, 2013 - AUD slides further
31 Jul 2013  Collinson FX Market Commentary: July 31, 2013 - Aussie takes a bath
30 Jul 2013  Collinson FX Market Commentary: July 30, 2013 - US Dollar gains
29 Jul 2013  Collinson FX Market Commentary: July 29, 2013 - KIWI Surges
26 Jul 2013  Collinson FX Market Commentary: July 26, 2013 - Jawboning the rates
25 Jul 2013  Collinson FX Market Commentary: July 25, 2013 - KIWI gives up chase
MORE STORIES ...




News - USA and the World

Volvo Ocean Race 2014-15 CEO Knut Frostad talks (Part I) *Feature by Rob Kothe and the Sail-World team,










Maxi yacht rendezvous this September in Sardinia by International Maxi Association,


















America's Cup: Team NZ wish Davis well with new team by Richard Gladwell, Sail-world.com/nz,


Fisher's View: Sailing perfection at Hamilton Island- Day 3 by Bob Fisher, Hamilton Island, Queensland




2014 Formula Kite World Championship Day 1 by Markus Schwendtner, Istanbul
























Opera House Cup - Images by Ingrid Abery by Ingrid Abery/Sail-World.com,


Teams descend upon Cowes for inaugural J/111 World Championships by Stuart Johnstone, Cowes, Isle of Wight, England






Sopot Match Race - Poland's Tour debut deemed a triumph
Vineyard Race celebrates 80th running of the East Coast classic
Nanjing Youth Olympic Games: Young sailors begin racing on Lake Jinniu
AWT Quatro Desert Showdown - Victory for Morgan Noireaux
Sevenstar Round Britain and Ireland Race - Day 8: Test of endurance
Bart's Bash: Over 2300 entered from 588 yacht clubs - Join here
Halifax ready to welcome the world at 2014 IFDS World Championships
RC44 World Championship title to Bronenosec + Video
Audi Hamilton Island Race Week: Day 2 Images by Crosbie Lorimer
IFDS Worlds - Gary Jobson to attend opening ceremonies
Melges 32 U.S. National Championship - Dalton DeVos crowned champion
2014 Nanjing Youth Olympic Games trailer
2014 Chicago Grand Slam - Canfield wins
Round Britain and Ireland Race - Varuna takes overall lead
Audi Hamilton Island Race Week; Crosbie Lorimer Day 1 Images
Fisher's View: Hamilton Island Race Week - Day 1 - Stayin' Alive
CORK Olympic Classes Regatta 2014 - Day one
Youth Olympics: practice over, athletes welcomed, time for YOG sailing
Round Britain and Ireland Race - Record for Artemis-Team Endeavour
2014 Melges 32 U.S. National Championship - Day 2
Sevenstar Round Britain and Ireland: Artemis sets fourth course record   
2014 Chicago Grand Slam - Top seeds survive as semi-finalists   
420 and 470 Junior Europeans - Breezy day 4 in Gdynia   
RC44 World Championship - Dramatic improvement for Artemis Racing   
18' Skiff International Regatta - Action begins August 25th   
Round Britain and Ireland Race - Challenging conditions arise   
Round Britain and Ireland Race - Record-breaking monohull victory   
Round Britain and Ireland Race - Dongfeng Race Team finishes third   
RC44 Marstrand World Championship - Bronenosec the star performer   
Bahamian Olympic Sailor to carry flag in honour of Sir Durward Knowles   
Sevenstar Round Britain and Ireland Race: Records continue to tumble   
Sevenstar Round Britain and Ireland Race: Course Record for Team SCA   
Round Britain and Ireland Race - Team Alvimedica completes the race   
2014 Melges 32 U.S. National Championship - Day 1   
420 and 470 Junior European Championships - A crazy race day 3   
2014 Sevenstar Round Britain and Ireland Race: Monohull record smashed   
2014 Chicago Grand Slam - Top seeds take the early lead   
Frostad proud to have seven Volvo Ocean Race boats with seven sponsors *Feature   
RC44 World Championship - Bronenosec Sailing Team on form   
Round Britain and Ireland Race - Dongfeng defends third position   


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