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Sail-World.com : Collinson FX Market Commentary: June 24, 2014 - AUD picks back up
Collinson FX Market Commentary: June 24, 2014 - AUD picks back up

'Steinlager II - Start ANZ Fiji Race, June 7, 2014'    © Richard Gladwell    Click Here to view large photo

Collinson FX market Commentary: June 21, 2014

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Equity markets drifted off last weeks record highs with fears over Geo-Political crises undermining recent gains. Chinese Manufacturing expanded back above the all-important '50' mark, rising from 49.4 to 50.8. This boosted Asian markets and the associated commodity currencies with the AUD rallying back above 0.9400.

The NZD also managed gains supported by improving Credit Card spending boosting retail but rising interest rates should impact the consumer. The KIWI holds 0.8700. European markets fell after manufacturing and services PMI dropped lower in France, Germany and the EU. Hardly surprising for the socialist basket case that is the bureaucratic lead EU and the ECB!

The EUR traded around 1.3600, reflecting the state of the single market, while the GBP battled back to 1.7025. The gloom spread to the US with Iraq and the Ukraine both threatening global disruption. Existing Home sales rose 4.9% and manufacturing also booked gains but the wall of bad news threatens to overwhelm. All eyes remain on the the emerging crises and any major distortions in economic data releases.

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

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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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3:16 PM Tue 24 Jun 2014GMT


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