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Collinson FX Market Commentary: June 11, 2014 - Swinging markets

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Collinson FX market Commentary: June 11, 2014

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Markets were mixed overnight with slight swings between positives and negatives. The EUR continued to suffer the impact of the ECB's extra-ordinary negative deposit rates and crashed to 1.3540. The initial upward movement has been more than erased as the Central Bank continues massive monetary expansionism and wealth destruction.

The desired impact on trade will be almost immediate but the negative impacts will be more far reaching. UK Manufacturing and Industrial Production continued to recover, giving some support to the GBP, trading 1.6750. Italian GDP continued to contract, reflecting the struggles in the single market, and more especially the Med economies. US markets were steady, with the NFIB Small Business optimism reporting a tepid improvement, reflecting the marginal state of the domestic economy.

The AUD traded around 0.9350, despite a contraction in Job Advertisements and a deterioration in Business Conditions, reflecting some positive economic conditions emerging. The pressure from the RBNZ, to force the NZD lower, has begun to subside with the interest rate differentials encouraging the KIWI back towards 0.8500. Substantial economic data release or Central Bank activity will drive equities, currencies and Bonds for the remainder of this week.

For more on Collinson FX and market information see:
www.collinsonfx.com and www.collinsonwealthmanagement.com

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


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.


by Collinson FX


  

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1:29 AM Wed 11 Jun 2014GMT


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