Collinson FX market Commentary: March 11, 2013
Click here to find out how to get CollinsonFX's free iPhone app
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!
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 - 11:15 AM Mon 11 Mar 2013 GMT
Click here for printer friendly version
Click here to send us feedback or comments about this story.
If you want to send this story to a friend, please use link below
Based on your current download speed Sail-World has delivered large images (660 pixels long side.) If you would like to see only small images (300 pixels long side) click here . For medium sized images (500 pixels long side) click here . If you would prefer to see text only (without pictures) click here
Click for further information on
2011 Collinson & Co
Related News Stories: