sail-world.com -- Collinson FX Market Commentary: March 11, 2013 - Good news from US

Collinson FX Market Commentary: March 11, 2013 - Good news from US    

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Collinson FX market Commentary: March 11, 2013

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The good news kept on coming in the US and equity markets continued to break fresh ground. The all important Non-Farm Payrolls beat expectations and added 236,000 Jobs, well above the 165,000 analysts had envisioned.

Unemployment fell to 7.7% and economic conditions seem to be on the rise. The flows back in to the US was reflected in the strength of the Dollar with the EUR consolidating below 1.3000 and the GBP struggling at 1.4915. Serious economic data releases in the UK and Euope will be a directional focus in the coming week.

The UK is mired in recession and has little in the way of relief. Having the Pound has probably saved them the austerity measures suffered by EURO participants and allowed currency advantages to boost trade. Fitch downgraded Italy to BBB after markets closed on Friday so we can expect a soft open to the new week with jitters filtering around the single currency zone.

The US goes from strength to strength with the Bulls in charge as the limitless sea of liquidity floods equity markets.

The flow back to the USD has left the AUD vulnerable trading under 1.0200 and the KIWI has slipped back to under 0.8200. With confidence on the rise the RBNZ is unlikely to move rates this week. US economic fundamentals may be the only brake on the rampant investors piling in to Share Markets!

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by Collinson FX
- 11:15 AM Mon 11 Mar 2013 GMT



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