Collinson FX Market Commentary- February 25, 2014 - Positive start
by Collinson FX on 25 Feb 2014
Collinson FX market Commentary: February 25, 2014
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Fidelis - 2014 Mahurangi Regatta - Classic Yachts January 25, 2014 © Richard Gladwell www.richardgladwell.com
The week began on a positive note, with lots of platitudes from the G20, promising Global growth and a recovery for all!
Markets have ignored the recent string of weak economic data, excused by the extreme winter weather conditions in the US, and taken heart from Yellen's promising continued tapering.
'Beware the Wolf in Sheep's clothing!' The EUR slipped back to 1.3725, after benign CPI data, confirming little in the way of measured inflation. The GBP is trading around 1.6600 and remains susceptible to reserve currency moves. Confidence continues to drive commodities higher and the associated currencies.
The AUD is attempting to mount 0.9000 again and the KIWI has breached 0.8300, with local Credit Card spending continuing to rise, supporting growing consumer confidence in the 'rock star' economy. Direction will continue to come from US data and Central Bank commentary.
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