ECOFIN meetings are usually held in Brussels and attended by Finance Ministers from EU member states. They discuss a range of financial issues, such as euro support mechanisms and government finances. The meetings are closed to the press but officials usually talk with reporters throughout the day, and a formal statement covering meeting objectives may be released after the meetings have concluded;
Why Traders Care:
ECOFIN is the Eurozone's broadest financial decision making body. The council coordinates economic policies of the 28 member states, and their initiatives and decisions can have a widespread effect on the Eurozone's economic health; Acro Expand The Economic and Financial Affairs Council (ECOFIN);
Breakout is going on for D1 timeframe : about W1 - if the price will cross 1.3832 on close bar so we may see good breakout on weekly chart which may be going on up to New Year for example. MetaTrader
China can manage inflation, but the debt becomes a problem
The data show that prices affect consumers advance slowed to 3% in November , annualized rate , and the prices producers fell by 1.4%. The central bank will have the option to throttle the liquidity provided by banks only if the price index would spiral out of control - and this does not in sight anytime soon. The trade balance showed a surplus of 33.8 billion dollars in November , exports advancing by 12.7 % on the previous year . Amazing results , generated in large part by growing demand for holidays in Western Europe and the U.S. , but correlated with a stronger global economy . Everything seems fine on the surface . The figures can hide but also exports to " disguise " capital inflows in China, as happened this year in May, after the imposition of stricter regulations .
But China 's panda another significant risk : the quality of loans made by non - financial companies bonds . In 2014 maturing debt of 2.6 trillion yuan ( 420 billion dollars) with one-fifth more than last year and a peak of the last eight years . How prepared are financial markets to roll over debt? It is time to worry? The prospect of a trader needs to be balanced , grasping opportunities viewed with detachment. The risk of default has grown significantly as the signal that the central bank will no longer tolerate taking extraordinary risks . Increasing interest rates can push across the line a number of borrowers , triggering domino effects. The stock market is not ready for such a scenario , and optimism it can keep the short term. But the coming months may bring realistic market adjustments , meaning a stop funding bad . Market Sentiment would then be easily reversed.
Quote Of The Day : It is well enough that people of the nation do not understand our banking & monetary system, for if they did, i believe there will be a revolution before tomorrow morning - Henry Ford
Week Ahead: Let's Avoid A Friday 13th Fright For Markets (source -forbes)
Let’s hope politicians don't spoil the party, because it could dampen what has been a fantastic year for stocks, with the S&P 500 up more than 25% and some equity analysts speculating the S&P could climb another 11 per cent next year to hit the symbolic number of 2,014 in 2014.
Chinese demand has helped fuel a boom in the virtual currency called bitcoin. But even as prices reach new highs, Li Xiaolai says he won't sell.
Mr. Li, 41 years old, is one of China's biggest bitcoin holders, according to a fledging community of bitcoin watchers in Beijing. The former English test-prep teacher won't disclose specifics but says his bitcoin holdings are "in the six figures with the first figure being one." With bitcoin prices soaring to around $1,000 each, that makes his stake worth more than $100 million.
"It's the first time China can lead the world," says Mr. Li, who cites local innovations in chips, web applications and other parts of the bitcoin ecosystem.
Forex Market Jitters Ahead Of U.S. Jobs Data (source - forbes)
This morning's release of the nonfarm payrolls (NFP) report will drive market action but investors best buckle-up for what could be a bumpy ride no matter what the data shows. The most important economic indicator in the global calendar, the U.S. jobs report will go a long way in shaping investor expectations for the Federal Open Market Committee (FOMC) meeting on December 17-18. To date, Federal Reserve Chairman, Ben Bernanke, has been vigilant on the dependency of strong data before ever considering tapering. With NFP, the end result will certainly have its talking points, and this release in particular because of the steady stream of positioning adjustments made throughout the week. The revision in payroll expectations (+185k), coupled with the not-so-dovish European Central Bank (ECB), has investors wondering how they should be positioned. There does not seem to be a strong consensus on what headline is good or bad for the dollar, thus making it more difficult to gauge the natural risk appetite of the foreign exchange (forex) market. Investors may want to take their next cues from equities and the fixed-income asset class.
Итальянский историк-экономист Карло Чиполла очень основательно подошел к вопросу о природе глупости. Долгие годы исследований привели ученого к тому, что он сформулировал пять универсальных законов, работающих в любом обществе. Оказалось, что глупость сама по себе намного опаснее, чем мы привыкли о ней думать.
1. Человек всегда недооценивает количество идиотов, которые его окружают.
2. Вероятность того, что человек глуп, не зависит от других его качеств.
3. Глупец — этот человек, чьи действия ведут к потерям для другого человека или группы людей, и при этом не приносят пользы самому действующему субъекту или даже оборачиваются вредом для него.
4. Не-глупцы всегда недооценивают разрушительный потенциал глупцов.