Collinson FX Market Commentary - Nov 7- GBP recovers, KIWI holds

by Collinson FX on 7 Nov 2017

- J-Class Regatta - Bermuda, June 2017 Richard Gladwell www.photosport.co.nz

Collinson FX Market Commentary - Nov 7 - GBP recovers, KIWI holds

US markets opened the week on a positive note with M & A activity in the Tech sector. Broadcomm offered to pay $70/share for Qualcomm in the biggest ever tech merger. The number will be in the vicinity of $130 Billion. Trump is in Asia, on an important trade tour, looking to resolve the North Korean crises plaguing Asian allies.

European Services and Composite PMI was flat, further extending QE pressure, allowing the EUR to slip below 1.1600.

The GBP continues to recover, pushing up to 1.3150, while the Yen trades below 114.00.Trump has played golf and shared hamburgers, with Japanese PM Abe, confirming their extremely close relationship.

Commodity prices opened the week firm, with the AUD trading above 0.7650, while the NZD holds above 0.6900. Look for Geo-Political issues to influence markets.

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