Collinson FX Market Commentary - June 10 - House prices bump KIWI

by Collinson FX on 10 Jun 2015 Collinson FX Market Commentary - June 10 - House prices bump Click here to find out how to get CollinsonFX's free iPhone app

June 10 - European markets remained under pressure as Greek debt negotiations continue. The Greeks have offered a new plan which ignores previously agreed upon conditions. They are now setting the loan conditions of existing and future debt terms. The negotiations is an operation of brinksmanship with the Greeks pushing to the limit.
The realisation that the tail can wag the dog!

EU officials are not prepared to accept the conditions, including debt write-off, but will have to compromise to avoid an exit. The EUR was static on 1.1285, while the GBP pushed up to 1.5380, with improving trade data. In the US, markets were shaken by a bomb threat evacuating a White House briefing, with little happening on the economic front.

The NZD jumped to 0.7140, supported by strong House prices, despite weak manufacturing data. The AUD drifted back from 0.7700 with improving business confidence. Bond rates settled, but remain under pressure, as Greece threatens the stabilty of the EU

Collinson FX Market Commentary - June 9 - Bonds rattle nervous markets
June 9 - Equity markets followed a volatile week with further slides after trade data showed some weakness. The Chinese Trade surplus increased, but mainly due to a collapse in Imports, thus demand. German imports also showed some weakness while Japanese GDP jumped 1% for the Quarter.

Bonds continue to rattle nervous markets and the Dollar gave up some gains as optimism on interest rate rises erodes. The EUR jumped to 1.1275, while the GBP pushed up to 1.5330. Greek debt negotiations will continue to dog European markets and the Ukraine is no closer to resolution after the costly G7.

Commodity currencies gained a flagging reserve, with the AUD jumping to 0.7690, while the KIWI pushed to 0.7125. Demand remains tepid, while Bond markets reflect nervous technicals, so expect further volatility this week by following economic data and a caveat on Geo-Political issues developing.

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