(As written for My Paper on 27 March 2012. Click here to enlarge)
This week, Eurozone finance ministers will gather in Copenhagen for talks. The main agenda will centre upon strengthening of the region’s financial firewall.
The goal is to establish a massive bailout fund that could combine the European Financial Stability Facility (EFSF) and the system designed to replace it, the European Stability Mechanism (ESM).
The EFSF, which is due to expire next year, has a current total of 440 billion Euros.
It has since disbursed 192 billion Euros in three separate bailouts to Greece, Ireland and Portugal.
Under the current rules, the unused funds would be passed on to the ESM. The ESM itself would have a fresh war-chest of 500 billion Euros available for future use.
(As written for My Paper on 20 March 2012. Click here to enlarge)
With the Greek story out of the way, all eyes are now focused on the recovery of the US economy.
Over the last couple of months, the US has reported consistent improvements in key economic reports such as non-farm payrolls and retail sales.
For the month of February, US employers added 227,000 jobs while retail sales rose by 1.1%. The jobless rate also remained at a healthy three-year low.
These stellar numbers have damped expectations for more QE from the Federal Reserve – a stimulus that might otherwise debase the greenback.
According to the median forecast of 91 economists in a Bloomberg News survey, US GDP is expected to rise 2.2% this year, while other developed nations are slated to increase by only 1.2%.
I was hospitalised this week to remove my appendix.
The whole story began with a mild discomfort in my tummy after I finished a run at the gym on Monday evening. Thinking nothing of it, I then had dinner and proceeded to conduct my weekly Forex Webinar.
The pain seemed to subside then – so much for being in the zone when you love what you do.
However, the intensity of the pain gradually increased and it didn’t go away even after I turned in for bed. After tossing and turning for several hours, I woke Shalyn up to send me to the A&E.
That’s how the story of my appendix unfolded. The rest, is history.
Suffice to say, after lying on the hospital bed for 5 days, I had more than my fair share of personal reflection.
The Straits Times – Sunday, 11 March 2012. Editor: Joyce Teo
FX1 Academy chief ventured into a completely different field and struck gold after learning from the best
Some people think they can make $50,000 a month or 10 times their money within a few months when they do forex trading, or trading in currencies.
But it is like gambling, and if the exchange rates do not go their way, they can easily lose all of their money, said forex trader Mario Sant Singh, 35, the chief executive of FX1 Academy, which teaches investors to trade based on fundamental and technical analysis.
‘It depends on the capital you start with,’ he said. ‘If you start with $10,000, then a return of 5 per cent a month will yield only $500. If you start with $1 million, the same 5 per cent will give you $50,000 a month.’ Read more…