Collinson FX: Nov 21, 2019 - US markets continued to drift aimlessly

by Collinson FX 21 Nov 2019 03:52 PST 22 November 2019

V5- PIC Coastal Classic - Start - Waitemata Harbour - October 25, 2019 © Richard Gladwell / Sail-World.com

Collinson FX: November 21, 2019 - US high as NZD retreats

US markets continued to drift aimlessly, with little substantial global economic data releases to drive direction, allowing the reversion back to speculation over the US/China trade agreement. Market sentiment is driven by the negative/positive speculation over ‘Phase One’ US/China trade agreement. US equity markets continue to trade close to record highs in the USA, supported by strong domestic data and accommodative monetary policy. US markets await the release of the Fed minutes, which should outline the thought process behind the Fed’s 0.25% cut back to the range 1.5%-1.75% and may hint at a pause in cuts. The EUR slipped back to 1.1060, while the GBP rose above 1.2900, as the Conservative lead in the ‘Brexit’ election polls.

The AUD fell back below 0.6800, impacted by negative speculation over the US/China trade deal and challenging local economic conditions, while the NZD managed to hold on to 0.6400. The AUD has been damaged by the RBA and their dovish monetary policy, while holding rates at their last policy meeting, the latest RBA minutes revealed an easing bias continues. US/China trade speculation continues to drive macro market sentiment and direction.

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 |

Related Articles
Collinson FX May 13: Markets surge on China deal
The US/China agreement is what markets were waiting for and market sentiment hit overdrive. Markets surged on the open, following the announcement of a US/China trade agreement. US equity markets rallied strongly, as did US Bond Yields on the great news, adding to the Friday agreement between the US and the UK. Posted on 12 May Collinson FX May 12: US/China trade progress
The US Treasury Secretary meets, this coming weekend in Switzerland, with China. The US Treasury Secretary meets, this coming weekend in Switzerland, with China. This is the key trade agreement and progress is expected. Posted on 11 May Collinson FX May 5: US markets rally strongly
Markets brush off a shock headline US GDP number, May opens on a strong note Markets in the US rallied strongly to close out a week of strong gains, brushing off a shock headline US GDP number. US equities rallied into the close for the week, opening the month of May on a positive note. Posted on 5 May Collinson FX April 11: More whiplash for markets
Markets will be suffering severe whiplash, after the last couple of weeks trade. Markets will be suffering severe whiplash, after the last couple of weeks trade, and overnight was no exception. Asian and European markets posted big gains, bolstered by the Trump announcement of a ‘pause' on tariffs, on all but China. Posted on 11 Apr Collinson FX November 11: Feel good US economy
US Federal Chairman says he is ,‘feeling good' about the US economy Markets continued to rally, following the huge wave of positive sentiment from the election of President Trump. The Fed unanimously voted to cut a further 25 basis points. US Federal Reserve Chairman, that he was ‘feeling good' about the US economy. Posted on 11 Nov 2024 Collinson FX June 7: ECB cuts rates
ECB (European Central Bank) cuts rates for the first time in five years, more cuts expected The ECB (European Central Bank) cuts rates for the first time in five years, as expected, offering relief to borrowers. Markets anticipate that the ECB will cut again, at least once, this year. Posted on 10 Jun 2024 Collinson FX: OCR hold lifts NZD
RBNZ was hawkish, citing inflationary pressures, in their decision not to change the Cash Rate RBNZ was hawkish, citing inflationary pressures, in their latest decision to leave interest rates at these elevated levels, until at least next year. That had the same impact on the currency, with the NZD rallying strongly following the RBNZ rate decision Posted on 22 May 2024