Collinson FX Market Commentary - Jan 17 - Hard line on Brexit from May

by Collinson FX on 17 Jan 2017 Collinson FX Market Commentary - Jan 17 - Hard line on Brexit from May

Markets were nervous overnight, with the UK PM May scheduled to make a speech addressing 'Brexit', with expectations of a tough position. A hard brexit may suggest complex negotiations with Europe, in terms of trade and access to financial and services markets, pushing the GBP to new lows.

Apparently the compensatory agreements with the commonwealth countries and the US, highlighted by the recent visit of NZ PM English, were not enough! The GBP fell to 1.2060, despite weakness in the Dollar, while the EUR held 1.0600. The Trump inauguration, on Friday, has also been the major consideration of markets this week.

Doubts have surfaced about global trade and predatory industry/corporate tactics driving nervous speculation. The AUD drifted back to 0.7470, while the NZD held 0.7100, with all currencies being vulnerable to US Dollar swings.

Collinson FX Market Commentary - Jan 16 - Market jitters over Inauguration

Markets were tame going in to the last full week of the Obama administration with speculation rife. The University of Michigan Economic Sentiment reported the status quo after some major gains post the US election.

Markets remain in a flux ahead of this week's US Inauguration with high expectations and uncertainties. The Dollar settled, with the EUR trading 1.0640, while the Yen held 114.00. NZ Consumer Confidence was flat, lending little to a buoyant currency, which held 0.7100.

Chinese Exports were static, while imports surged 10.8%, supporting trading partners, including the AUD which traded around 0.7500. The coming week will be dominated by the US Inauguration and the speculation associated with it!

For more on Collinson FX and market click here and here Or for the latest update click here

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