Collinson FX: April 26 2019 - Closed for ANZAC
by Collinson FX 27 Apr 2019 05:45 PDT
28 April 2019
Collinson FX: April 26 2019 - Closed for ANZAC
NZ and Australian markets were closed yesterday for ANZAC commemorations, in a quiet trading week dominated by holidays. The AUD stabilised above 0.7000, a key support level both technically and psychologically, after the shocking CPI data miss earlier in the week. The currency has been smashed, but settled above 0.7000, while the NZD fell in sympathy to below 0.6600. The NZD was oversold and bounced back overnight to regain 0.6600. The Bank of Japan reviewed their growth and inflation targets lower and promised to extend QE for at least a year. Markets will look closely at Japanese Employment, Industrial Production and CPI today.
US markets were stable, with strong growth in Durable Goods Orders, while the focus turns to the GDP numbers released tonight. The economic growth is tipped to be softer, as it has been globally, as the US/China trade talks hang in the wind. The EUR slipped further, to trade 1.1120, while the GBP fell below 1.2900 enmeshed in Brexit chaos. Local markets will focus on NZ Trade and Consumer Confidence data, while the Australian markets continue to be preoccupied with the Federal Election.
Collinson FX: April 23 2019 - A short week
The Easter Break has shortened the week of both last and this week, in most Western economies. The Chinese market had a sudden jolt downwards, after news that Monetary stimulus, would be succeeded by actual Government policy. What this means Is yet to be seen, but equities did not react well to the loss of further monetary largesse. In the US the Chicago Fed announced a contraction while Existing Homes Sales were steady. The Dollar was also unchanged with the EUR holding 1.1250, while the Yen is trading just under 112.00. The GBP is extremely vulnerable, falling below the key 1.3000, as the Politicians holiday after securing further defer/delay to Brexit.
Collinson FX: April 17 2019 - Brexis takes a breather
Markets continued to digest the strong earnings season in the US, as the lack of substantive economic data, failed to influence markets. Boston Fed President Evans spoke, confirming that ‘rates can stay unchanged until the fall of 2020’, allowing equity markets to gain momentum. German ZEW economic sentiment drifted lower, although the corresponding EU ZEW report was more positive, while US Industrial and Manufacturing Production was soft. The EUR traded 1.1280, while the JPY drifted back below 112.00. UK Employment data was on the soft side, while the chaos surrounding Brexit takes a breather with an extension to Article 50, while the GBP fell back to 1.3050.
Catch the new look Collinson FX website at www.collinsonco.com
Disclaimer: The details expressed in this website and accompanying documents or transmissions are for information purposes only and are not intended as a solicitation for funds or a recommendation to trade. Collinson Forex Ltd accepts no liability whatsoever for any loss or damages suffered through any act or omission taken as a result of reading or interpreting any of the information contained or related to this site
Countries: | NZ: 0800 338 838 | AU: 1800 143 415 | NY: 1888 6257 833 | UK: 0800 0285 834 |