Collinson FX Market Commentary - April 27 - Antipodean currencies up
by Collinson FX on 27 Apr 2016
AON flies down the Waitemata - ANZAC Skiffs - Day 4 - April 2016 Richard Gladwell
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Collinson FX Market Commentary - April 27 - Antipodean currencies Click here to find out how to get Collinson FX's free iPhone app
April 27 - Markets were in a state of limbo as the Fed sat down for their scheduled two day meeting. There are high indications of the status quo, continued QE and no rate rise, as economic data remains soft. Growth has been benign, globally, although there are green shoots in the commodity sector.
The Obama tour of Europe has presented an opportunity to bolster support for the UK to remain within the EU and this is being reflected in the most recent polls. The GBP has reflected this, moving up to 1.4575, but the state of flux remains. In the US, Durable Goods Orders were flat, while housing was static. New Home Sales contracted 1.5%, while the Case Shiller Home Price Index was flat, providing little impetus from a leading sector. The Fed is unlikely to act but analysts keenly await the commentary accompanying the statement.
The Dollar is soft, with the EUR rising to 1.1290, while the Yen trades 111.35. Oil prices lead commodities higher and bolstered the associated currencies. The AUD traded up to 0.7740, while the NZD moved up to 0.6875, awaiting the Feds decision. The Bank of Japan is also slated to add further QE on Thursday which will impact the currency wars.
Collinson FX Market Commentary - April 26 - Weak start to the Weak
April 26 - A quiet start to what promises to be an extremely busy week, dominated by an avalanche of global economic data, controlled by the Central Banks. The FOMC will hold a two day meeting, with no change to QE expected, although commentary remains central to market direction.
The Bank of Japan also releases Monetary Policy, later in the week, likely to confirm central participation in the Global currency war! The ocean of important economic data begins tonight after a quiet start to the week. Equities were softer while the Dollar drifted lower.
The EUR traded 1.1250, while the Yen slipped back to 111.0. Commodity currencies stabilised with the softer reserve, with the AUD holding 0.7700, while the NZD traded around 0.6850. On wards and upwards after a long ANZAC weekend in Australasia!
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