Here are the most important items to watch today:
- Another 16 banks downgraded by Moody’s
- Fitch downgraded Greece to “CCC”, from previous “B-”
- European Central Banks (ECB) stop lending to some banks in Greece
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Here are the most important items to watch today:
- Bank of England (BoE) lowered the UK economy growth
- Gold: strong price pressure amid the turmoil in Euro Zone
- Fed has not ruled out more easing if economy is threatened
Here are the most important items to watch today:
- Fears escalate on Greek re-election
- Hollande and Merkel – A book with introduction, yet to have any content
- Treasury yields among Spain, Greece and Italy continue to surge
Here are the most important items to watch today:
- Moody’s downgrades 26 Italian banks
- Estimated German and French Gross Domestic Product (GDP) in focus
- Pound and US dollar outperform most counterparties as safe-haven demand increases
(As written for My Paper on 15 May 2012. Click here to enlarge)
Amidst the on-going European debt crisis, the Sterling has emerged as one of the unlikely safe haven darlings for currency traders.
The Pound has strengthened 3.4% against the Euro since the start of the year and 7.4% if measured from October 2011.
To many traders, this is surprising, considering two important points. Firstly, the UK is undergoing its second recession in only three years. Secondly, the Bank of England has flooded the financial system with Sterling in its quantitative easing (QE) program – to the tune of 325 billion Pounds.
So what is the main reason for the continued strength of the Sterling despite its weak fundamentals? The answer, is the recent “hawkish” tone displayed by the Bank of England (BOE).
(Thank you friends, because of your support, your FX1 chief coach was featured on 中国经营网 on 14 May 2012.)
欧美经济或再探底
来源：中国经营网 作者：马钟明 黄家蓉 时间：12-05-14 16:12:59 45
（中国经营报讯∕记者 马钟明 黄家蓉）作为全球上市券商排名第五位的FXPRIMUS（百利汇）集团培训交易总监和CNBC（美国广播公司财经频道）财经分析师，马里奥.辛格被称为是全球外汇交易领域的风向标人物。日前，马里奥.辛格受邀来到深圳，与众多外汇投资者面对面交流，针对现阶段的备受关注的全球热点经济问题，辛格先生给出了他的看法。
“人民币兑美元汇率波动不能超过8%或低于8%”
2012年以来，人民币兑美元升值幅度低于0.2%，且在3月份曾多次出现大幅贬值情况。在单边升值预期下或双向波动日益显著的背景下如何规避人民币汇率存在的风险，将对人民币汇率市场化起至关重要的作用。
马里奥.辛格认为“主要原因是人民币兑美元汇率的波动使交易的浮动变得比较大，中国要把这个浮动的幅度加大，可以刺激经济的增长，而不需要注入过多资金进入市场”。从2010年一月到2011年六月，中国将外汇储备金率从15.58%提高到25.58%，在一年半的时间里提高了12倍，主要的原因是要控制通货膨胀。“人民币兑美元汇率波动不能超过8%或者低于8%，反之将会出现两个极端：一个极端，如果人民币升值的话，有助于进口，人民币比较强劲，并且能更好的控制通货膨胀；另外的一个极端，当人民币走弱的时候，有助于出口领域，人民币疲软的时候利于别的国家比较容易买入中国的商品”。
Here are the most important items to watch this week:
- Insight of the Euro Zone political turmoil
- Bank of England is unlikely to change its “hawkish” statement
- People’s Bank of China cuts the reserve requirement rate by another 50 bps, aiming to boost the economy after a soft growth in the first quarter
Read the entire Market Brief of the Week article then take Mario’s poll »
