[ARCHIVE] FOREX - Trends, Forecasts and Consequences (Episode 14: April 2012) - page 71

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eh we are about to cross the threshold to buyers hell ..... oh and there will be ... )))) or vice versa ))))
I doubt it... covered... good for today...
news for euros http://top.rbc.ru/economics/13/04/2012/646312.shtml
I doubt it... covered... good for today...
the problem is not credit but liquidity... Merkel gave a co-speech yesterday that the people of Germany will not allow deflation, they remember the 20s... Which means that if deflation is on the horizon, Germany will withdraw from the euroo... by the way, there was a failed auction of German debt securities the day before yesterday... so the road down is booked, as soon as the news negative comes out, the fall will intensify
Italy reported a 0.7% fall in output in February. It had been expected that the fall would not exceed 0.2%. However, even the actual published value still does not fully reflect the severity of the situation. Manufacturing output fell in February by 1.1% after a fall of 0.9% in January, when the total output fell by 2.6%. The Italian stock market has lost 4.7% in the last five sessions. Also yesterday, the US Federal Reserve announced that investments in government bonds of foreign CBs in its accounts reached a record high last week. The total exceeded $2.759 trillion - the previous record high set in August last year. We should not be surprised if a new record is set next week.
Interestingly, 55% of the $5.048 trillion in U.S. government bonds are held in trust by foreign investors at the Fed. Since mid-January there is an increase of $100bn in assets held in trust. Presumably the good results from the refinancing of government bonds this week, the assets in asset custody and yesterday's news that Chinese reserves increased by 124 billion dollars in the 1st quarter (cum trade surplus reached 2.15 billion dollars) should dispel concerns that low yields on US government bonds are scaring off buyers. Finally, let's touch on developments in the emerging world. South Korea's central bank has left policy unchanged, but central bank chairman Kim sounded slightly more aggressive than before. Clearly, many are breathing a sigh of relief to learn that North Korea's missile test has ended in failure. The surprise was Singapore's decision to tighten its monetary policy. How the Chinese economy would fare was still unclear, many believed that Singapore would rather wait and see. Meanwhile, Singapore's economic statistics came out better than forecast: Q1 GDP grew 9.9% q/q, while retail sales soared 19% y/y.
Mark Chandler, Brown Brothers Harriman
put the TP at sells at 1.3070