Collinson Forex Daily Market Commentary and Weekly Market Calendar

Daily Market Commentary

 Markets continued to rally, following the huge wave of positive sentiment from the election of President Trump. The Fed unanimously voted to cut a further 25 basis points, with a noted commentary from the Federal Chairman, that he was 'feeling good' about the US economy. The positive sentiment and more certainty moved equity markets to record levels, while the recent surge in bond yields has eased. The pressure on the safety of the US Dollar has also reversed, allowing the EUR to regain 1.0700, while the GBP has pushed back to 1.2900.
 
The softer reserve has ensured the commodity currencies have settled, albeit at low levels. The AUD bounced off 0.6560, while the NZD rebounded from 0.5950. These currencies are experiencing testing times and reflect the weak economic situation, domestically, as well as trade challenges. This coming week will see big inflation data releases across Europe and the US, while GDP growth data will also be of interest.

Weekly Market Calendar

11/11 RBNZ Inflation Report, US Veterans Day, NZ Credit Card Sales
 
12/11 Australia Business Confidence, German CPI, German/EU ZEW Economic Sentiment, NFIB Small Business Optimism, German Current Account, Japan PPI
 
13/11 France Employment, EU Industrial Production, US Weekly Mortgage Applications, US CPI, NZ Food Price Index
 
14/11 Australia Employment, US Weekly Jobless Claims, US PPI, NZ Business PMI, Japan GDP
 
15/11 China House Prices/Industrial Production/Retail Sales, Japan Industrial Production, UK GDP, UK Industrial/Manufacturing Production, UK Trade, France CPI, US Retail Sales, US Industrial Production

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