Collinson FX Commentary: Feb 21

Collinson FX Commentary: Feb 21 - A quiet opening

by Collinson FX 20 Feb 2018 16:07 PST 14 February 2018

Bay of Islands Sailing Week, January 2018 © Richard Gladwell

Collinson FX Commentary: Feb 21 - A quiet opening

Markets opened quietly, after Presidents Day holiday in the US, while Chinese New Year continues. Equities were mixed and the Dollar regained some ground. The Yen moved to 107.50, while the EUR drifted back to 1.2350, amidst some disappointing ZEW Sentiment data from Germany and overall, for the EU.

US Equity markets had the 10% correction, confirming the bull-run, as economic fundamentals lend themselves to more upside.

The Fed minutes are going to confirm further rate rises, as the rhetoric changes, leading in to the new Fed regime. The NZ Dairy Auction delivered positive prices but the rising reserve pushed the commodity currencies lower.

The NZD fell back to 0.7350, while the AUD slipped back below 0.7900, confirming mixed demand and a volatile Dollar. Markets will look at growth and inflation data, which is driving the interest rate narrative, as bond yields act as the canary in the mineshaft.

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Countries: | NZ: 0800 338 838 | AU: 1800 143 415 | NY: 1888 6257 833 | UK: 0800 0285 834 |

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