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Sail-World.com : Collinson FX Market Commentary: July 16, 2014 - Oz confirms low rates
Collinson FX Market Commentary: July 16, 2014 - Oz confirms low rates

'- Safety at Sea, SSANZ Two Handed Triple Series, July 12, 2014'    © Richard Gladwell    Click Here to view large photo

Collinson FX market Commentary: July 16, 2014

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European markets dropped after the important ZEW reported a big fall in economic sentiment in the EU and Germany. ZEW is highly regarded and acts as a guide to the state of the European economy. The US was mixed with Fed Chairman, Yellen, appearing in front of the Senate Banking Committee. She was surprisingly hawkish in her comments and warned of the danger of overvaluation in equities.

This boosted the Dollar and Bond yields while Gold turned south. The EUR took a big hit, falling to 1.3565, while the GBP rose to 1.7150 despite the resurgent Dollar. UK CPI conitnues to threaten inflationary problems and thus the prospect of rising interest rates.

The AUD dipped to 0.9370 with the RBA minutes confirming low interest rates to support slack demand and economic challenges. The KIWI slipped back below 0.8800 but does not have the docile interest rate environment of its trading partners.

A resurgent economy has been met with Central Bank interest rate rises dampening economic activity and boosting the NZD. Seems Mr Wheeler is in his own world, which is independent of the Global economy, while looking completely different through the keyhole.

Start - Safety at Sea, SSANZ Two Handed Triple Series, July 12, 2014 -  © Richard Gladwell   Click Here to view large photo

Collinson FX market Commentary: July 15, 2014

A relief rally in equities spread across Europe and through to the US. ECB President, Draghi, re-assured markets that the Central Bank 'stands ready to take further action as needed'. This allayed fears, rising across the banking sector, of another Portuguese default triggering yet another banking crises. Markets will look at the Bank of Japan, expected to hold the status quo, and at the Fed later in the week.

Central Banks are most definitely in control of markets with unprecedented expansionary monetary policies. The US took comfort from the ECB and rallied on some stronger than expected corporate earnings lead by Citibank. The Dollar rallied, pushing the GBP back below 1.7100, while the EUR held 1.3600.

NZ House Prices and Sales contracted feeling the full brunt of the RBNZ new loans policy and the rising interest rate strategy. The Housing Sector has lead the recovery of the Consumer and has now hit the wall.

The trade sector will be impacted by rising costs of capital and higher exchange rates. The KIWI continued to trade around 0.8800 supported by the interest rate differentials while the AUD remained just below 0.9400.

Australian markets await the impending repeal of the much despised 'Carbon Tax' which will drive lower costs through the economy and cost of living for the consumer.This will have a positive impact across the economy on economic growth.

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


  

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3:18 PM Wed 16 Jul 2014GMT


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Related News Stories:

15 Jul 2014  Collinson FX Market Commentary: July 15, 2014 - Rising interest hits
13 Jul 2014  Collinson FX Market Commentary: July 12, 2014 - KIWI heads to 90c
12 Jul 2014  Collinson FX Market Commentary: July 11, 2014 - Portugal bank defaults
11 Jul 2014  Collinson FX Market Commentary: July 10, 2014 - KIWI hits higher
09 Jul 2014  Collinson FX Market Commentary: July 9, 2014 - New stat pushes ANZACs
06 Jul 2014  Collinson FX Market Commentary: July 5, 2014 - AUD jaw boned lower
05 Jul 2014  Collinson FX Market Commentary: July 4, 2014 - AUD Overvalued
04 Jul 2014  Collinson FX Market Commentary: July 3, 2014 - KIWI remains strong
02 Jul 2014  Collinson FX Market Commentary: July 2, 2014 - KIWI rises higher
01 Jul 2014  Collinson FX Market Commentary: July 1, 2014 - NZ Economy hits wall
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