Collinson FX Market Commentary- December 11, 2013 - Tapering times
by Collinson FX on 11 Dec 2013
Collinson FX market Commentary: December 11, 2013
http://itunes.apple.com/app/collinsonfx/id533360650?mt=8!Click_here to find out how to get CollinsonFX's free iPhone app
ISAF Sailing World Cup, Melbourne Day 3 - 49er (NZL) © Richard Gladwell www.photosport.co.nz
Equity markets drifted lower, as consideration was given to an improving economy, forcing the Fed to curb monetary stimulus. Budget talks draw to a climax, culminating in a deal by the 13th of December, giving some fiscal stability to markets and removing yet another excuse from the Fed.
The likelihood of tapering improved, but markets are sceptical, as the Dollar continued to flounder. The EUR rose to 1.3770 and the GBP to 1.6440, after a reduction in the UK trade deficit and steady Industrial and Manufacturing production.
Chinese Industrial production continued to impress, holding 10%, and Retail Sales rose 13.7%. This boosted demand for commodities and thus the associated currencies. The AUD rose to 0.9150 and the KIWI just under 0.8300.
The pressure exerted upon the risk currencies of late has come from the Central Banks but support remains, with the only threat, 'Tapering'!
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.
If you want to link to this article then please use this URL: www.marinebusinessworld.com/117529