Collinsonfx Weekly Marketing Commentary and Calendar

Weekly Market Commentary

Markets collapsed overnight, to close out a short trading week, due to Thanksgiving and Black Friday. The emergence of yet another variant of the virus, in the media, sparked a sell-off in risk assets. Global equities suffered their biggest losses for the year, while US Bond Yields collapsed, hurting the US Dollar. The new mutated variant is a continuation of the viral saga. We have gone from Alpha to Delta  and India to Botswana. The fear factor is immense, with the prospect of official intervention, closing economies and societies. We have all seen this play out over the last couple of years. US 10 Year Bond Yields crashed to 1.48%, from 1.65%, while the surging US Dollar suffered accordingly. The EUR rallied to 1.1320, while the GBP pushed back to 1.3350, despite surging infection levels in Europe.
 
The coming week will provide an avalanche of global economic data releases, culminating in the US Non Farm Payrolls number. Growth and Inflation remain key indicators and this current virus scare will impact future growth prospects. The commodity currencies suffered growth and demand fears, with the AUD falling to 0.7100, while the NZD crashed to 0.6800. The inflation reality is beginning to play out in markets.

Weekly Market Calendar

29/11 Japan Retail Sales, EU Consumer Confidence, German CPI
 
30/11 US Pending Home Sales, Dallas Fed Manufacturing Index, Japan Employment/Industrial Production, NZ Business Confidence, Australia Building Permits/Current Account Exports/Imports, China Manufacturing PMI, German Employment, France CPI/PPI, EU CPI
 
1/12 S&P Case Shiller Home Price Index, Australia Manufacturing PMI, US Consumer Confidence, Australia GDP, Japan Manufacturing PMI, China Manufacturing PMI, German Retail Sales, UK House Prices, UK/France/German/EU Manufacturing PMI, US Weekly Mortgage Applications, ADP Jobs Report
 
2/12 US Manufacturing PMI, NZ Trade Exports/Imports, US Total Vehicle Sales, Australia Trade Exports/Imports, Australia Consumer Confidence, ECB Meeting, EU Employment, EU PPI, Challenger Jobs Report, US Weekly Jobless Claims
 
3/12 Australia Services/Composite PMI, NZ Building Permits, Japan Services/Composite PMI, China Services/Composite PMI, UK/France/German/EU Services/Composite PMI, EU Retail Sales, Non Farm Payrolls, US Employment, US Factory Orders

PLEASE NOTE THE VIEWS EXPRESSED IN THIS COMMENTARY ARE THOSE OF THE AUTHOR AND NOT COLLINSON & CO 

Paul Bettany

Collinson Forex

Collinson & Co

Mobile 0406-744-923

paul@collinsonfx.com