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Collinson FX Market Commentary - Oct 20 - Week off to a limp start

by Collinson FX on 20 Oct 2015
- Young 88 - Owner Driver Championships Richard Gladwell www.photosport.co.nz
Collinson FX Market Commentary - Oct 20 - Week off to a limp Click here to find out how to get Collinson FX's free iPhone app

Oct 20 - A limp start to the trading week as markets come to terms with lower Chinese growth. Chinese Industrial Production continued recent declines, while Retail Sales improved slightly, but lower GDP (falling below 7%) reflects the reality of a maturing market. Oil fell 3%, leading weaker commodities, impacted by a rising Dollar.

The rebound in the Dollar was reflected in the associated currencies with the AUD trading around 0.7250, while the NZD sits below 0.6800.

The EUR slipped to 1.1325, while hawkish comments from the Bank of England, pushed the GBP to 1.5465.

Earnings will be under the microscope this week, although expectations are for reasonable bottom line, but revenues will reflect testing economic conditions.

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