sail-world.com
 
 
News Home Cruising Photo Gallery Video Gallery
Sail-World.com : Collinson FX Market Commentary: June 28, 2012 - Tonight's the Night
Collinson FX Market Commentary: June 28, 2012 - Tonight's the Night

'Image of the Day Musto Skiff sailor on trapeze cruising downwind, at Weymouth in the middle of the English summer - Musto Skiff World Championships 2012'    www.photoskiff.com

Collinson FX market Commentary: June 28, 2012

The EU Summit begins tonight in Europe with expectations low. Equity markets continued to rally despite the looming summit which should provide further leadership failures.

Not surprisingly Italy, Spain and France are advocating socialised debt but Germany will steadfastly refuse. Merkel would be committing political suicide to approve a Eurobond shared debt scheme. The EUR drifted lower in anticipation trading 1.2450 and the GBP 1.5560.

The US markets ignored Europe without any major developments and focused on improving economic data. The Housing Market continued to surprise with Pending Home Sales rising 5.9% complimenting the Case-Shiller Home Price rises from yesterday. US durable Goods Orders also rose further boosting confidence and supporting the rally in equities and commodities.

The AUD held on to gains trading 1.0075 and the KIWI around .7900 after some improving trade data. The EU Summit will dominate markets with only the brave being long.

The big news out of the US, will be the Supreme Court ruling on Obamacare tonight. If they reject the unpopular law, markets would probably rally strongly.

Valsheda - Day 1 - J class UK Series, Falmouth -  J Class Association   Click Here to view large photo

Collinson FX market Commentary: June 27, 2012

EU proposals for the summit have been bagged by the Germans after their release. The proposals included 'Common Banking Supervision' and 'Joint Debt Issuance' which are euphemisms for socialising the debt. The Europeans cannot seem to help themselves with the solutions doubling down.

It is socialism that is the root of all their problems. Providing citizens according to their perceived needs rather than economic reality. The bloated pension funds and distorted socialised laws are endemic of the corrupted and disfunctional socities littering the EU. The new proposals would provide temporary solace for Med members but would drag functional members down with the sinking ship. How about balancing the budgets for an idea? The EUR traded around 1.2500 and looks vulnerable to hits from a failed EU summit.

Moody's downgraded 28 Spanish Banks and look set to downgrade Spanish Sovereign Debt to Junk status but markets are starting to become immune. In the US equity markets ignored the Euro-quakes and rallied. The market focused on surprisingly positive housing news. The S&P Case-Shiller Home Price Index rose, sewing seeds of a housing recovery essential to any economic turnaround in the US.

Rising risk appetite floated the commodity currencies with the AUD consolidating above parity with the KIWI moving above 0.7900. A test of 0.8000 would be a bridge too far in this market but stranger things have happened!

Consumer Confidence remains a problem in these markets and thus any sustained rally is unlikely.

Bullit,Peter Morton,FRA 7891 - Coutts Quarter Ton Cup 2012  Paul Wyeth - pwpictures.com_- copyright  

Collinson FX market Commentary: June 26, 2012

Markets continued to meltdown in the lead up to the EU Summit at the end of the week. Merkel seems unlikely to relent in terms of debt sharing. It seems unbelievable that the Germans would even consider assuming the debt of bankrupt member nations.

The Greeks are beset with further problems as the Finance Minister resigned and health problems plague the new PM. It seems likely they will prepare a case for easing austerity measures but nothing short of full debt retirement will sustain membership. The Greeks are terminal as Cyprus joined member nations who have requested a bailout.

Expectations remain low and feed market negativity towards Europe which will impact the US and Asia. The EUR dropped below 1.2500 and the GBP 1.5550. Risk aversion is on the wane as safety plays push the USD higher.

Commodities were hit hard, as were equities. The aversion play pushed the AUD below parity and the KIWI back to 0.7850. In the US, sentiment tanked despite some positive Jobs data. New Home Sales leaped 7.6% surprising many.

The Dallas Fed's Manufacturing Index popped up 5.8 although the Chicago Fed Index slipped. The positive economic data was outweighed by the European debt crises and pushed markets lower. European progress will determine market direction this week although some big Political decisions in the US may impact markets.

The Supreme Court are set to rule on Obamacare which is a decision impacting nearly 20% of the US market.

Per Elisa,Ian Travers and Eamon Rohan,IRL 12296, - Coutts Quarter Ton Cup 2012  Paul Wyeth - pwpictures.com_- copyright  

Collinson FX market Commentary: June 25, 2012

Markets experienced a 'Dead Cat Bounce' after the sell-off on Thursday. All problems remain and a solution does not seem near. Banks remain closely watched as their Balance Sheets remain enhanced by Central Banks and their P&L boosted by yield curve plays.

Further developments in Europe will remain the market determination. This week markets will also view economic data in the US, highlighted by Housing Data.

Europe will continue to dominate with the EUR looking weak trading 1.2550 and the GBP 1.5580. Commodities remain vulnerable despite higher yields as risk appetite fades.

The AUD may well test parity and the KIWI dips under 0.7900.

No major events are scripted but Eco-Political events remain key.

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=99024

12:24 AM Thu 28 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:

27 Jun 2012  Collinson FX Market Commentary: June 27, 2012 - EU Proposals bagged
26 Jun 2012  Collinson FX Market Commentary: June 26, 2012 - Aversion drops ANZAC
25 Jun 2012  Collinson FX Market Commentary: June 25, 2012 - The Dead Cat Bounces
22 Jun 2012  Collinson FX Market Commentary: June 22, 2012 - Train crash speeds up
21 Jun 2012  Collinson FX Market Commentary: June 21, 2012 - Operation Twist II
20 Jun 2012  Collinson FX Market Commentary: June 20, 2012 - Big 8 looms for KIWI
19 Jun 2012  Collinson FX Market Commentary: June 19, 2012 - Elections come and go
15 Jun 2012  Collinson FX Market Commentary: June 18, 2012 - AUD blows past Parity
14 Jun 2012  Collinson FX Market Commentary: June 14, 2012 - Greeks grab cash now
13 Jun 2012  Collinson FX Market Commentary: June 13, 2012 - US equity markets lift
MORE STORIES ...




News - USA and the World



































Formula Windsurfing Youth and Master Worlds overall by International Windsurfing Association,












Bakewell-White supermaxi designed to take Transpac's Barn Door Trophy *Feature by Richard Gladwell Ssail-World.com/nz,




















Foiling Week - Moth Class Italian Open Championship Day 2
America's Cup: Luna Rossa foiling in AC45s at their Italian base
Star World Championship - Germans claim dramatic win in Malcesine
PWA Awaza World Cup - Down to the wire in Turkmenistan
Route Halifax Saint-Pierre - Off to France!
Nacra 17 Europeans - La Grande Motte back in Olympic classes arena
Stena Match Cup Sweden - Hansen hat trick in Marstrand + Video
Route Halifax Saint-Pierre Race keeps an eye on Arthur
World Match Racing Tour: See the Finals replay at the Stena Match Cup
Newport International Boat Show unveils exciting 'At The Helm' Program
Stena Match Cup Sweden - First blood to Hansen over Canfield + Video
Star World Championship - Americans claim race win in Malcesine
PWA Awaza World Cup - Weather halts action on day 4
Clipper Race - Henri Lloyd wins OneDLL Cup into Den Helder
Clipper Race - Close match racing in closing stages of the OneDLL Cup
Volvo Ocean Race: Spanish play catch-up with under 100 days to go
World Match Racing Tour: Catch the live action at the Stena Match Cup
Finn Junior Worlds - Battle for the Jorge Bruder Silver Cup
Mobiles drive traffic - 72% increase in Sail-World.com page view *Feature
British Open Dragon Championship finale at Royal Lymington preview
2014 Cape Panwa Hotel Phuket Raceweek - Phuket is ready to host   
PWA Awaza World Cup - Valerie Ghibaudo hits back on day 3   
Star World Championship - Hard fought win on day 4 + Video   
Stena Match Cup Sweden - Action-packed match racing + Video   
Oceans of Hope yacht arrives in Portsmouth   
Bell's Beer Bayview Mackinac Race - Registration details   
RORC Transatlantic Race - Polishing up the silver   
Vic-Maui International Yacht Race - First start to lead off busy day   
Anna Tunnicliffe competing at the CrossFit Mid-Atlantics + Video   
18ft Skiff Europeans: Winning days at Lake Garda   
Clipper Race - Choppy conditions as fleet closes in on Den Helder   
Lightning Youth World Championship - Final day   
2014 Star Class World Championship - Day 3   
America's Cup: Dean Barker interviewed on the current state of the Cup   
PWA Awaza World Cup - Delphine Cousin draws first blood   
Stena Match Cup Sweden - On a roll in Marstrand + Video   
Star World Championship - Frustrating day 3 rocks the fleet   
Maxi Yacht Rolex Cup - Rendezvous returns August 31st   
ISAF seeks modern catamaran for future Youth Worlds editions   
470 Junior Worlds - Flawless performances on day 4   


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