sail-world.com
 
 
News Home Video Gallery Photo Gallery
Sail-World.com : Collinson FX Market Commentary: October 2, 2013 - Shutdown on ignore
Collinson FX Market Commentary: October 2, 2013 - Shutdown on ignore


'Stoke Beer(NZL) 18ft Skiffs San Francisco, USA'    Richard Gladwell ©    Click Here to view large photo

Collinson FX market Commentary: October 2, 2013

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

The US Government shut down and 800,000 Federal workers receive a furlough but the world did not come to an end!? Surely the loss of some 800,000 Federal workers is not going to destroy the global economy and the markets decided that too. This can only be temporary as they do perform some necessary tasks and the outcome may determine the result of the real fight looming.....the Debt Ceiling debate!

It is the compromise reached over these actions that may determine a change in fiscal policy and political ascendancy in the US. The ISM report, released overnight, showed a rise in Manufacturing activity in the US which may encourage thoughts of the dreaded tapering. The EUR remained flat, trading 1.3530, after some lackadaisical PMI Manufacturing data releases and flat Employment statistics. Commodities drifted lower with Chinese Manufacturing PMI showing no real signs of imminent break out recovery.

The impact on the AUD was inverse, as the RBA left rates unchanged at 2.5% and some positive economic reports. Australian PMI rose to 51.7 from 46.4, with New Home Sales rallying by 3.4% and Retail Sales improving by 0.4%. Economic data improvement may be a good sign domestically with the adults taking over Government.

The KIWI did not fare as well drifting to 0.8275 correcting a recent surge in the Trans-Tasman cross rate. Look for plenty more economic data and Geo-Political action to drive volatile markets.

18ft Skiffs San Francisco, USA -  Richard Gladwell_©   Click Here to view large photo


Collinson FX market Commentary: October 1, 2013

Equity markets fell again overnight as the pending US Government shutdown appears more likely.

The deadlines are disappearing and it seems likely the shut down will occur with the Debt Ceiling debate looming large. Uncertainty prevailed overnight and another volatile October seems to be in the offing. Equities hate the uncertainty and the steady meltdown continues. The USD is not as attractive in the face of all the political warfare and the GBP continues to book heavy gains, rising to 1.6180.

Even the single European currency took heart and rallied to 1.3525. Commodity currencies continued to be beneficiaries with the KIWI breaking 0.8300 after a rise in business confidence.

The AUD also managed to break back over the 0.9300 in spite of adverse local currents. Attention will be focused on the US Government so politics will drive markets over the next 24 hours!


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=115290

9:44 PM Wed 2 Oct 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:

04 Oct 2013  Collinson FX Market Commentary: October 3, 2013 - Battlin' on
02 Oct 2013  Collinson FX Market Commentary: October 1, 2013 - Shutdown looms
28 Sep 2013  Collinson FX Market Commentary: September 27, 2013 - Break back
07 Sep 2013  Collinson FX Market Commentary: September 5, 2013 - Dollar rebounds
04 Sep 2013  Collinson FX Market Commentary: September 3, 2013 - Chinese growth
30 Aug 2013  Collinson FX Market Commentary: August 30, 2013 - Wall St over Syria
29 Aug 2013  Collinson FX Market Commentary: August 29, 2013 - War stops Kiwi drops
29 Aug 2013  Collinson FX Market Commentary: August 28, 2013 - War talk crash
28 Aug 2013  Collinson FX Market Commentary: August 27, 2013 - NZ numbers not good
25 Aug 2013  Collinson FX Market Commentary: August 24, 2013 - Back to the Future
MORE STORIES ...




News - USA and the World

HUD Vision: An interview with Afterguard Marine’s Alex Moret *Feature by David Schmidt, Sail-World USA Editor, Seattle














America's Cup: Expected de Ridder penalty should be reduced *Feature by Richard Gladwell/Sail-World.com/nz, Auckland, NZ
















Congressional Cup - Victory for Taylor Canfield and crew by Rich Roberts (As Amended by ISAF),




2014 Halifax – Saint-Pierre Ocean Race by Patricia Nelder, Nova Scotia














Image Gallery: Stratis SL33 flies on the Waitemata by Richard Gladwell,Sail-world.com/nz,


Audi Melges 20- Sperry Topsider Charleston Race Week - Light final day by International Audi Melges 20 Class Association,
















America's Cup: Gino Morrelli outlines the new AC62 design
Doyle Sails New Zealand signs Andrew Brown as One Design Manager
America's Cup: Dean Barker's Blog - A sail with the Duke and Duchess *Feature
29er World Youth Sailing Week Easter regatta - Day 1 and 2 overall
C Thomas Clagett Jr Memorial Clinic/Regatta - Entries start to roll in
50th Congressional Cup: See the delayed coverage and media conferences
Clipper Race 10 Day 27: Closing stages - Qingdao to San Francisco
Canfield, Williams, Bruni, Swinton in Congressional Cup final four
Sperry Top-Sider Charleston Race Week - Day 2
Audi Melges 20 Charleston Race Week - Perfect conditions in Charleston
Oyster Regatta Antigua - Full on ocean conditions for day 3
PWA World Tour - A taste of things to come at La Torche + Video
Women's International Match Racing Series kicks off in June
Melges 32 Audi Tron Sailing Series - Action shots by Max Ranchi
Clipper Round the World Yacht Race - Frustrating conditions
Man rescued after falling overboard in Pacific taken to hospital
Sperry Top-Sider Charleston Race Week 2014 - Youth leading Melges 20
Congressional Cup - Canfield leads toward Congressional Cup sailoffs
Sperry Top-Sider Charleston Race Week 2014 - Perfection for Day 1
America's Cup: Coutts claims ISAF Jury on a crusade, backs Kiwi report *Feature
Clipper Round the World Yacht Race - Will light winds hamper progress?   
Les Voiles de St. Barth - Preparing to rock Saint Barthélemy waters   
Clipper Round the World Race - OneDLL and Qingdao now in San Francisco   
America's Cup: Emirates Team NZ up against funding hurdle for year *Feature   
Melges 32 Sailing Series Napoli - Day 1 images by Stefano Gattini   
50th Congressional Cup: View the Live racing here   
Melges 32 Sailing Series - Napoli action shots by Max Ranchi   
Volvo Ocean Race - Team Alvimedica launch new boat   
Emirates Team NZ: Royals duke it out on the Waitemata   
2014 Charleston Race Week - Thousands of sailors descend on Charleston   
The Congressional Cup 2014 - Williams hangs on with a classy crowd   
50th Congressional Cup: View the Live racing here   
RORC Transatlantic Race - Notice of Race now available   
Oyster Regatta Antigua - Sunshine and smiles on day 2   
Rolex China Sea Race on the horizon   
What can a boat name tell you about the person behind the helm?   
Clipper Round the World Yacht Race - Race 10 rumbles on   
SAP 5O5 World Championship - Kiel action starts August 13th   
Volvo Ocean Race - It's a family Affair   
Clipper Round the World Race - Great Britain claims line honours   


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.
XL WAS US