sail-world.com
 
 
News Home Cruising Photo Gallery Video Gallery
Sail-World.com : Collinson FX Market Commentary: June 28, 2014 - Directional changes
Collinson FX Market Commentary: June 28, 2014 - Directional changes

'Whitbread Round the World race winner, Steinlager II (NZ Sailing Trust) - Start ANZ Fiji Race, June 7, 2014'    © Richard Gladwell    Click Here to view large photo

Collinson FX market Commentary: June 28, 2014

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

Equity markets closed on record highs again with a delusional belief in an economic recovery but a massive mountain of Central Bank liquidity expanding the equity bubble. French GDP growth slipped back to zero, confirming the absence of an economic recovery, while the UK managed 0.8% growth with an annual rise of 3% GDP.

The GBP is in recovery mode as they have avoided the disaster of the EURO and battle back slowly to a recovery. Europe remains under extreme pressure and the ECB and single currency fundamentally flawed, detroying any chance of a robust economic recovery. The GBP holds above 1.7000 and the EUR trades 1.3650.

The week ahead has many reasons for some quantum directional changes, with important Employment data out in the US, while the ECB and RBA rate decisions ensure Central Banks dominate. This should be a massive week, but shortened, with the Independence Day holiday on Friday in the USA!

Steinlager II (NZ Sailing Trust) heads out of the Waitemata Harbour, 2014 ANZ Fiji Race start -  © Richard Gladwell   Click Here to view large photo

Collinson FX market Commentary: June 27, 2014

The control Central bankers have over markets was on full display overnight with the Bank of England Governor Carney and Fed member, James Bullard, driving market sentiment. In the UK the Governor clarified earlier comments and signalled the Bank was ready to end 'QE' turning the cycle direction.

The GBP regained some lost momentum and surged to back through 1.7000,leapfrogging the EUR, which struggled to hold 1.3600. In the US, Bullard, frightened markets with a commentary warning of interest rate rises as early as the first quarter of 2015! He pointed to targets being met, in terms of both Inflation and Employment, and foreshadowed a rising interest rate environment. Stocks moved lower,at the prospect, but he is a non voting member while Yellen remains a staunch Dove.

The KIWI is flying high, moving up to 0.8770, fuelled by the growing and attractive interest rate differentials. RBNZ Governor Wheeler is suffering collateral damage from his hawkish and presumptuous monetary policy moves. This has long been an error of NZ Central Bankers, acting without patience, thus causing unnecessary volatility and pressures on the currency.

The trade data will be released today and the higher costs of capital will impact economic activity and adversely impact trade through a surging currency. The AUD is hovering around 0.9400 and without domestic pressures remains susceptible to external pressures..

Steinlager II (NZ Sailing Trust) - Start ANZ Fiji Race, June 7, 2014 -  © Richard Gladwell   Click Here to view large photo

Collinson FX market Commentary: June 26, 2014

A horrific US GDP number failed to quell the enthusiasm investors have for equities. The avalanche of liquidity, provided by Central banks, means that it has to go some place and equities are the place of least resistance. Shares continue to provide attractive returns compared with bonds.

The first quarter GDP was revised back from a contraction of 1%, to almost unbelievable negative 2.9%, a five year low and a contradiction to the economic recovery conspiracy theorists!? This completely busts the recovery premise, although markets shrugged this off, as historical data and a one off due to weather conditions and Obamacare.

Durable Goods Orders also contracted 1% and economic progress seems to have hit the proverbial wall. The EUR inched back,with attractive yields, overcoming the train crash that is the single market. The Currency rebounded above 1.3625, while the GBP slipped below 1.7000, in a reversal of recent trends. The AUD drifted back below 0.9400, after the political contradiction of the year, confused many and not just in Australia!

Mining billionaire and balance of power holder, Clive Palmer, announced an apparent ' road to Damasacas' moment. Al Gore, Global Warming fanatical alarmist and crusader, appeared with Clive and endorsed his policies!

Palmer announced the end to the Greens holy grail, the carbon tax, but announced retention of some climate measures and the dream for an ETS. This is comedy hour and further destroys the reputation of Gore appearing with the confused bull, charging through the Australian political china shop, wreaking havoc.

The KIWI regained yesterday's losses and surged back to 0.8730 with interest rate differentials providing incentives to international investors. The gloss will start to fade on the global rock star economy as the misguided and deluded RBNZ impacts the economy with aggressive and destructive interest rate hikes.

Steinlager II (NZ Sailing Trust) - Start ANZ Fiji Race, June 7, 2014 -  © Richard Gladwell   Click Here to view large photo

Collinson FX market Commentary: June 25, 2014

Equities were mixed again overnight but were perched at record levels due to growing economic confidence. The hand brake is the Geo-Political developing crises in the Middle East and the Ukraine. The Middle East has the ability of igniting the whole region which would be catastrophic for oil and the global economy. The Ukraine has the potential to impact an already impaired European economy.

German IFO Business Confidence slid overnight with the Dollar reversing recent losses as the EUR slipped below 1.3600. The Bank of England failed to inspire confidence and halted recent gains in the currency as the GBP slipped back to 1.6970. Housing numbers finally gave markets some hope in the US after yesterday's gains in Existing Home Sales were reinforced by New Home Sales and Home Prices. NHS leapt 18.6% and S&P prices rose 10.80%! Consumer Confidence also jumped confirming recent data.

Surprising then that equities did not continue the inexorable march upwards? The Geo-Political issues remain the threat with the disturbing GDP numbers also spreading some nerves. Philly Fed President, Plosser, observed economic targets were approaching faster than expected thus lending some support for the Dollar. The commodity currencies also slipped due to gains in the Reserve. The AUD gave up 0.9400 and the NZD slipped below 0.8700.

Steinlager II (NZ Sailing Trust) - Start ANZ Fiji Race, June 7, 2014 -  © Richard Gladwell   Click Here to view large photo

Collinson FX market Commentary: June 24, 2014

Equity markets drifted off last weeks record highs with fears over Geo-Political crises undermining recent gains. Chinese Manufacturing expanded back above the all-important '50' mark, rising from 49.4 to 50.8. This boosted Asian markets and the associated commodity currencies with the AUD rallying back above 0.9400.

The NZD also managed gains supported by improving Credit Card spending boosting retail but rising interest rates should impact the consumer. The KIWI holds 0.8700. European markets fell after manufacturing and services PMI dropped lower in France, Germany and the EU. Hardly surprising for the socialist basket case that is the bureaucratic lead EU and the ECB!

The EUR traded around 1.3600, reflecting the state of the single market, while the GBP battled back to 1.7025. The gloom spread to the US with Iraq and the Ukraine both threatening global disruption. Existing Home sales rose 4.9% and manufacturing also booked gains but the wall of bad news threatens to overwhelm. All eyes remain on the the emerging crises and any major distortions in economic data releases.

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=123874

11:41 PM Sun 29 Jun 2014GMT


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:

27 Jun 2014  Collinson FX Market Commentary: June 27, 2014 - KIWI flies high
26 Jun 2014  Collinson FX Market Commentary: June 26, 2014 - KIWI climbs back
26 Jun 2014  Collinson FX Market Commentary: June 25, 2014 - AUD up KIWI down
25 Jun 2014  Collinson FX Market Commentary: June 24, 2014 - AUD picks back up
22 Jun 2014  Collinson FX Market Commentary: June 21, 2014 - KIWI climbs ladder
20 Jun 2014  Collinson FX Market Commentary: June 20, 2014 - NZ GDP improves
20 Jun 2014  Collinson FX Market Commentary: June 19, 2014 - KIWI Up AUD Down
19 Jun 2014  Collinson FX Market Commentary: June 18, 2014 - AUD loses ground
17 Jun 2014  Collinson FX Market Commentary: June 17, 2014 - KIWI's meteoric rise
14 Jun 2014  Collinson FX Market Commentary: June 14, 2014 - RBNZ pumps KIWI up
MORE STORIES ...




News - USA and the World

The International Moth Class isn't exactly a new sailing class, yet the learning curve would have to be one of the steepest out there. Moths have been on foils for almost 10 years, yet besides talking to fellow moth sailors, there isn't a lot of information out there to help you master the skills and techniques needed to fly ... [more]  

America's Cup: Full CAS report finds both ISAF and de Ridder at fault *Feature by Richard Gladwell, Sail-World.com/nz
The Decision of the Court for Arbitration of Sport over the suspension of Dutch sailor Dirk de Ridder has been circulated. The report, which was earlier reported in summary form as to the decision, confirms a 18month suspension on de Ridder, one of the Netherlands' top sailors ... [more]  

2014 Rolex Sydney Hobart Yacht Race - Australia’s premier ocean race has always had an international flavour; Captain Illingworth, who started the whole Sydney Hobart thing was, after all, an Englishman. ... [more]  

2014 Rolex Sydney Hobart Yacht Race - Ocean sailors are daft; why else would you think it a good idea to take a modern ocean racing yacht around the world on her own bottom to compete in lots and lots of races, some thousands of miles long? ... [more]  

2014 Rolex Sydney Hobart Yacht Race - The island is off the NSW south coast, 155 nautical miles south of Sydney’s South Head and about 6 nm south-east of Narooma. Its lighthouse, built of granite quarried on the island, began operating in 1881. The island is a protected nature reserve. ... [more]  

2014 Rolex Sydney Hobart Yacht Race - Hundreds of Australian sailors spend their lives trying to win the Tattersall’s Cup; year after year they declare in Hobart that this was their last Rolex Sydney Hobart - definitely - for sure. But 12 months later you spot them again at the Cruising Yacht Club of Australia, tinkering with their pride and joy and nervously eying off Boxing Day ... [more]  

America's Cup: Lawsuit against Oracle Racing lodged in San Francisco *Feature by Richard Gladwell/Sail-World.com/nz
In further legal fallout from the 34th America's Cup one of the New Zealand sailors named in an action bought by the International Sailing Federation has in turn lodged a lawsuit in a California Court against his former racing team, Oracle Racing Inc over boat fixing in America's Cup World Series ... [more]  

2017 J/80 World Championships: The Royal Southern Yacht Club (RSrnYC) has an active J/80 fleet and attracts many more of the class to its summer series of regattas run annually from May through to September, in addition to match racing J/80s in the annual Grade 2 Match Cup. ... [more]  

Spectacular fire on Sydney Harbour captured on video *Feature by Richard Gladwell, Sail-World.com/nz
Sydney sailing sports photographer, Beth Morley was on Sydney Harbour, capturing images of the Friday night racing, when a luxury launch caught fire nearby. I was out photographing the Ransa Sailing yacht race this evening when I saw smoke coming from the back of a large cruise boat around the back of Sow and Pigs (reef) area towards Middle Head. ... [more]  

Clipper Round the World: The award is in recognition of the way he directed his crew during a dramatic man overboard rescue in the harsh northern Pacific Ocean last March. The Rod Stephens Trophy for Outstanding Seamanship is an internationally renowned trophy awarded annually for an act of seamanship which significantly contributes to the safety of a yacht, or one or more individuals at sea. ... [more]  

OK Dinghy Worlds: Some sailors will even be in transit over the festive period, so thoughts of overindulgence will be a long way from their minds as they focus on the challenge ahead – overcoming the strong Australian team and preparing for the conditions on Port Phillip Bay. However, if the event is true to form - there will be overindulgence in competitive and fun racing. ... [more]  

The Decision of the Court for Arbitration of Sport over the suspension of Dutch sailor Dirk de Ridder has been circulated. The report, which was earlier reported in summary form as to the decision, confirms a 18month suspension on de Ridder, one of the Netherlands' top sailors ... [more]  

2014 Rolex Sydney Hobart Yacht Race - With the early weather outlook for next week’s Rolex Sydney Hobart Race indicating it will be a sometimes torrid all-round test over the 628 nautical miles, the highly experienced crew of race record holder Wild Oats XI is feeling comfortable but not over-confident. ... [more]  

Hanohano Outrigger Canoe Club, Huki Outrigger, and Hoven Vision present the 19th Annual Hanohano Huki Ocean Challenge to be held in Mission Bay, San Diego, Ca. on January 24th, 2015. ... [more]  

Photographer Andrea Francolini was on the water to provided this gallery of images of Comanche. ... [more]  

Images from Mauritius as the Team Vestas Wind recovery crew prepare to depart for the Cargados Carajos Shoals, over 200nm away. The team have acquired some salvage equipment and will live aboard a chartered boat and attempt to float the boat over the reef and into the lagoon. ... [more]  

The skipper of Mapfre, Iker Martinez will leave the Campos managed Volvo Ocean Race entry for the third Leg of the Volvo Ocean Race. The team cites a conflict between Martinez's Olympic commitments in the Nacra 17 and the Volvo Ocean Race, as the reason for the departure which the team says was a planned move. ... [more]  

Team Vestas Wind skipper Chris Nicholson (AUS) has flown back to a remote Indian Ocean reef to help oversee a complicated operation to retrieve his stranded boat after it was grounded there during Leg 2 of the Volvo Ocean Race nearly three weeks ago. ... [more]  

The America's Cup Competitor Forum, comprising the six teams registered for the 2017 America’s Cup, has appointed Iain Murray as Regatta Director. The appointment was tipped a month ago in Sail-World.com. Under the Protocol for the 35th America's Cup, the appointment has to be approved by the majority of the competitors. ... [more]  

Rolex Sydney Hobart Race: The intention to enter the fleet of twelve Clipper 70s in the 71st edition has just been confirmed by Clipper Race organisers. The RSHYR will form part of the biennial Clipper Race series for a second time. The round-the-world fleet created much interest in 2013 as amateur sailors from over 40 different nationalities competed as part of their 40,000 mile circumnavigation. ... [more]  

If you missed this week's edition of Adventures of a Sailor Girl, then hear the replay below. This week's show is the 34th. Sailing news in sixty seconds-ish (2:46). Sail Sydney: Josh McKnight (Moth, 9:43), Tom Spithill (Moth, 12:45), Olivia Price & Eliza Solly (FX, 15:24) Tom Burton (Laser, 23:20) James Wierzbowski (Extreme 40's, 32:08) and much more ... [more]  

RORC Transatlantic Race 2014: Isabelle Haudiquet was on the helm as the bright yellow hull blasted through the finish line. Having safely moored Bingo after 17 days at sea, the French crew enjoyed a cold beer dockside at Camper & Nicholsons Port Louis Marina. ... [more]  

Volvo Ocean Race: Chris Nicholson Interview - Part 3 - On the Atoll *Feature by Richard Gladwell/Sail-World.com/nz
Final part of a three part, 80 minute, interview with Team Vestas Wind skipper, Chris Nicholson on the wrecking of the Volvo Ocean Race yacht on an idyllic atoll in the South Indian Ocean during the night of November 29. In this part, Nicholson tell what happened once the crew stepped aboard the local coastguard boat just after dawn, and subsequent trips back to the wreck. ... [more]  

The Safety Requirements and Recommendations (SRR) for the 2015 Bell's Bayview Mackinac Race are now published. On Saturday, March 21, Bayview will be hosting Mark Thornton for his presentation and seminar 'Preparing Your Mac Forecast: A Workshop For Sailors.' ... [more]  

2015 International 14 World Championship - Four-time World Champion, Britain’s Archie Massey, expects racing in the titles at Geelong, Australia, will be tight. ... [more]  

The 2014 WWA Wake Park World Series (WPWS) officially ended this past weekend at one of the most fun and progressive cable parks on the globe; Thai Wake Park (TWP) in Bangkok, Thailand. With tons of advanced new features in the lake, top Wakeboarders from all over the world tightened up their boots and hit the water for what would be a groundbreaking finish to a historical WPWS season. ... [more]  

The most significant sailing performances of the year are being heralded by US Sailing with the announcement of the ten men and seven women who have been shortlisted for the 2014 Rolex Yachtsman and Yachtswoman of the Year awards. ... [more]  

A successful medal haul for the Australian Sailing Team (AST) at the ISAF Sailing World Cup in Melbourne with five gold, five silver and three bronze in the Olympic class program, plus two gold and one bronze in the Paralympic fleet. Hear what the sailors had to say about their performance, along with some great video footage of the week's racing on Port Phillip. ... [more]  

Bart’s Bash, the global sailing race that took place in 60 countries around the world, on September 21st, 2014 raised an incredible £366,391.95 for the Andrew Simpson Sailing Foundation. The race was held in memory of Andrew 'Bart' Simpson, the Olympic gold medal sailor who died in May 2013. ... [more]  

RORC Transatlantic: As with every yacht participating in the race, staff from Camper & Nicholsons Port Louis Marina greeted the French team on arrival with warm congratulations, a cold beer and a welcome basket from the Grenadian Tourism Association on behalf of the people of Grenada. The crew of five looked tired after nearly 17 days at sea, but owner, Frank Lang was full of praise for his crew. ... [more]  

2014 Rolex Sydney Hobart Yacht Race - Perpetual Loyal is no stranger to the Rolex Sydney Hobart. Winning line honours in 2011, they have continued to be a contender, especially in heavier breezes. ... [more]  

In a lot of ways, it was kind of befitting that the best conditions of the last day of the Sailing World Cup – Melbourne, were saved for the Women’s Laser Radial Medal Race. Apart from highlighting them in glorious sunshine, like Huey’s own spotlights, it also brought into frame that were only two girls 470 crews in attendance for the regatta. ... [more]  

The website for the 2015 Finn Gold Cup in Takapuna, New Zealand, has been launched. The Finn class is eagerly anticipating a return to Takapuna Boating Club for what will be only the second Finn World Championship to be held in New Zealand. It will have been 35 years since Cam Lewis (USA) beat John Bertrand (USA) in a thrilling final race showdown in 1980, to take the Gold Cup. ... [more]  

Great signed Limited Edition sailing books by Bob Fisher for Christmas
Clipper Race - Sir Robin Knox-Johnston to mentor young South African
IFDS Worlds 2014 New Video Memories - Halifax is just a click away!
McDougall + McConaghy Moth Worlds 2015 - Must see, seriously fun event
Volvo Ocean Race: Chris Nicholson Interview - Part 2 - On the Rocks *Feature
Successful St. Maarten Regatta Beach Clean-Up at Kim Sha Beach
US Sailing releases Rio 2016 Olympic Trials System
Rolex Sydney Hobart Yacht Race - Oldies return
Volvo Ocean Race sets up independent inquiry into Vestas Wind disaster
Volvo Ocean Race: Team Brunel: sweet victory
RORC Transatlantic Race - Apollo 7 touch down
2014 OK Dinghy Worlds Preview one - Last but not least
Melges 24 Christmas Sprint Series - Christmas comes early for Red Mist
Extreme Sailing Series 2014 Act 8 - Superb podium finish for Realteam
Volvo Ocean Race: Chris Nicholson on the Team Vestas Wind disaster - 1 *Feature
USA 4 Windsurfing campaign
Rolex Sydney Hobart Yacht Race - One last modification to Wild Oats XI
Sydney-Hobart: Wacky Races 2 - Frosty, Hoonigan and Wilbo *Feature
RORC Transatlantic Race 2014 - Big adventure comes to an end
ISAF World Sailing Rankings – 15 December 2014
Comanche; Supermaxi Showdown VIDEO   
Miami Star Winter Series - Commodores Cup Final day   
2014/15 Audi Melges 20 Miami Winter Series - Jason Michas wins   
2014 RORC Transatlantic Race - Yacana crosses finish line   
2014 Extreme Sailing Series - Act 8 - Swiss team Alinghi wins   
Extreme Sailing Series: Images from Act 8 + Series' Highlights video   
Volvo Ocean Race: Dongfeng Race Team - Leg Two review   
Extreme Sailing Series: Alinghi crowned 2014 and Sydney champions   
Extreme Sailing Series -Sydney Land Rover recognises talent   
ISAF Sailing World Cup Melbourne - Medal Race Images   
Extreme Sailing Series: Alinghi dons ESS Crown, Oman Air wins award   
18ft Skiffs: Rooklyn scores win in Syd. Barnett Jr. Memorial Trophy   
ISAF Sailing World Cup: Fan cranks up for final Melbourne day + Videos   
Miami Star Winter Series - Commodores Cup Day 1   
Extreme Sailing Series: Delayed coverage - Day 4 +Audio *Feature   
Volvo Ocean Race - Dongfeng score another excellent result   
Audi Melges 20 Miami Winter Series - Fleet rumbles in Miami   
Extreme Sailing Series - The Wave, Muscat see championship bid slip   
2014 RORC Transatlantic Race - From acorns grow oaks   
Volvo Ocean Race - Team Brunel (NED) wins Leg 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