Sail-World.com : Collinson FX Market Commentary: June 5, 2012 - Currency against trend
Collinson FX Market Commentary: June 5, 2012 - Currency against trend
|
|
|
'Pic of the Day 2nd - 2012 European 18 Footer Grand Prix I. (Hungary, Lake Balaton)'
Gabor Turcsi
|
Collinson FX market Commentary: June 5, 2012
The flood of negative economic news continued with weak data from China, Europe and the U.S..The previous week broke technical levels and erased 2012 gains in equity markets. Currencies surprisingly resisted the moves with the EUR bouncing back to 1.2480 and the GBP 1.5375. This may be a dead cat bounce as technicals and fundamentals point the same way.
In China Non Manufacturing PMI fell from 56.1 to 55.2. In Europe Investment Confidence remained critically weak and PPI was flat. The U.S. Followed with Factory Orders falling 0.6% and the New York ISM contracting below 50.
Australian equity markets were hammered from the fallout from the U.S. Employment data over the weekend. Job advertisements fell and Company profits slipped a further 4%.
The AUD improved to 0.9725 following a consolidating USD. The KIWI held resistance levels and built back to 0.7570 but further upheavals in Europe are likely to test the all important 0.7500.
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=98056
5:24 AM Tue 5 Jun 2012GMT
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:
MORE STORIES ...
|
|
|
|
Our Advertisers are committed to our sport, please support them!
This site and its contents are © Copyright TetraMedia Pty. Ltd and/or the original author, photographer etc. All Rights Reserved.
Photographs are copyright by law. If you wish to use or buy a photograph you must contact the photographer directly (there is a hyperlink in most cases to their website, or do a Google search.) with your request.
Please do not contact
Sail-World.com
as we cannot give permission for use of other photographer’s images.
Only if the photographer named on the image is Sail-world.com, Powerboat-world.com, Marinebusiness-world.com or NZBoating-World.com.
Contact us
.
Ph: +61 2 8006 1873
or complete our
feedback form
Contact us
.
View our Privacy Policy.
[ Go Home]
[ Banner Advertising Specification]
[Bot Archive ]
Customised news feeds -Marine Industry companies, Clubs and Associations have their own customised version of our news feed on their website.
Look_here_to_see_examples
|
| | |
