“The line in the sand for me is at 80 (yen versus the dollar),” Mario Singh from FXPRIMUS.com told CNBC Wednesday. “Why won’t they (the Bank of Japan) come and intervene now at this point,” Singh asked.
“I think we’re a bit away from a self-sustained recovery in the euro area as a whole”, Dr JÃrgen Pfister from BayernLB told CNBC, after German business morale rose to its highest level in more than three years in August, according to the IFO survey Wednesday. Mario Singh from fxprimus.com joined the discussion.
(As written on The Market Place.)
Forex trader and educator Mario Sant Singh dispels myths about the Forex market.
Foreign exchange, also called Forex trading, has been popularly perceived as a risky affair, and akin to gambling, as some might consider. However, the Forex market is difficult to ignore: the averagedaily turnover is US$3.2 trillion, making Forex the most-traded market in the world. In addition, Singapore is the fourth largest Forex center in the world. This growing trend has undeniably created a growing interest among Singaporeans to engage in trading currencies. Many have started with high hopes of growing their money exponentially, only to lose all their investments due to a lack of understanding in navigating the risks of the Forex market. Reversing this negative perception of the Forex market is the mission of Mario Sant Singh, 34, the founder and CEO of FX1 Academy Pte Ltd.
“The key reason why people think Forex is a risky business is because many don’t know what to do,” said Singh, referring to speculators who are unaware of the concepts of risk management. But Singh stands firm with the view that with the right education, anyone will be able to trade responsibly and earn a profit; his company was formed out of the belief that it is a person’s personal responsibility to create his own financial destiny.
Mario Singh, director of training & education at FXPRIMUS.com, explains why now is not the right time for the BOJ to intervene and weaken the yen. He speaks to CNBC’s Steve Sedgwick, Christine Tan and Yousef Gamal El-Din.
The euro and sterling will gain, if tonight’s U.S. GDP growth data comes in weak, says Mario Singh, director of training & education at FXPRIMUS.com. He discusses the U.S. economic outlook, with Mikio Kumada of LGT Capital Management, and CNBC’s Martin Soong and Sri Jegarajah.
