Daily Commentary 01/12/2014

Markets were very quiet to close the week after most of the US was closed for Thanksgiving and ‘Black Friday’. The commodity currencies closed the week at a limp, with the AUD failing to hold 0.8500, while the KIWI was marginally better at 0.7810 to finish the week. The new week commences the final month…

Daily Commentary 28/11/2014

The markets were little changed overnight with few announcements of any note. The OPEC cartel managed to push oil prices even lower overnight by refraining from cutting production limits, putting massive pressure on higher cost oil producing nations. They are hoping to squeeze high-cost producers, especially those in US Shale, and eventually achieve a higher…

Daily Commentary 27/11/2014

US markets were bumping along, testing highs, with some indifferent and mixed economic data released overnight. US Housing remained positive, with both New Home Sales and Pending Home Sales rising, but below expectations. The important Durable Goods Orders were positive but Consumer Confidence contracted. There appears to be no ‘launch button’ to break through the…

Daily Commentary 26/11/2014

Equities remained steady in Europe and the US with improving growth prospects and support from Central Banks in China, Japan and Europe. US GDP jumped to 3.9%, building on previous sizable gains, driving the Global markets. Housing in the US was treading water, while Consumer Confidence unexpectedly fell. German and EU GDP also showed signs…

Daily Commentary 25/11/2014

Markets drifted in mixed trade with little in the way of economic releases overnight. The initial burst of confidence flowing from Central bank activity from China and jawboning from Europe. ECB President Draghi committed to ‘raising inflation as fast as possible’ through Monetary Policy and called on fiscal action from member nations. The important German…

Daily Commentary

The elongated and tortured demise of the EURO continued. ECB President, Draghi, promised further asset purchases if the current QE program failed. This was a gut-punch to the EUR, which tumbled down to 1.2390, while the GBP slipped to 1.5650 with mainstream politics is disarray! China cut interest rates in an effort to stem the…

Daily Commentary 21/11/2014

US Equities pushed higher but failed to gather any momentum because of the drag from Europe and Asia. Chinese Manufacturing PMI dropped back to 50, which is the ‘tipping point’ between growth and contraction, reinforcing the problems the global economy faces. European PMI indicates further contraction, confirming the triple-dip recession and impacting global demand. The…