Collinson FX Market Commentary- March 11, 2014 - Chinese exports drop
by Collinson FX on 12 Mar 2014
Collinson FX market Commentary: March 11, 2014
http://itunes.apple.com/app/collinsonfx/id533360650?mt=8!Click_here to find out how to get CollinsonFX's free iPhone app
Economic data was thrown into the mix of uncertainty to begin the week. Chinese Exports fell 18.1% from a year ago
Int. A-Class Catamaran World Championship, Day 5, Takapuna NZ © Richard Gladwell www.richardgladwell.com
, which shocked many, as most expected growth and thus demand to continue to strengthen. China and Asia continue to be a major driver of demand and the fall in Chinese demand hit commodity prices hard.
This in turn impacting a soaring AUD. After testing 0.9100 during the local days trade, the commodity driven currency, plunged back towards 0.9000. The KIWI did not have such a roller-coaster ride but did rise then settle back to 0.8450.
Uncertainty undermines markets and the Ukrainian crises has interrupted the bull market in equities. Russia will book the gains in the Crimea and now use a position of strength to influence Kiev, in terms of future political/economic direction, away from the EC. The West is considered an interloper in Russia's sphere of influence and is widely blamed for the current situation in the East.
The Malaysian Airline disappearance has also added to the jitters globally with terrorism suspected.
The EUR retreated back to 1.3870, but remains near highs, although the GBP retreated back to 1.6635. Look for more uncertainty in markets with global geo-political developments unfolding.
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/120034