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Mike Conlon | 26 July 2010
Is considered one of the things I on Friday in connection with the European Bank stress tests mentioned that you credible his musste.Die got results on Friday and were on the whole positive, from the market. There were some interesting volatility in the Forex market like the message in leaked and was digested.
But the question remains: can we believe these results? Only 7 of 91 banks tested need to raise capital, and none of the banks were as likely fail.This has left the methods used to test and the assumptions, the banking strength to show many questions.
So what all of this really matters is that the reliance on the market is restored. Civil servants, have the results been trumpets and try out the tests, the exercise time will tell claimed success voranzubringen.Nur, if it does.
We have a similar crisis of confidence on our side of the pond in the United States stattfindet.Investoren are clearly with the views of the US economy in love, but officials here will normally tell you.The 10-year Treasury note is currently under 3%, the talking of heads tell you that it is a "success", we are able to issue debt with low rates of interest.
Treasury Secretary Geithner told us that it happened confidence in the US economy, which is this, but I believe otherwise. The fact of the matter is that the United States "the only game in town" at that time with so many other economies according to U.S. economic strength or their own problems. This is another case, which the "least ugly" price to win global economic beauty contest in the USA.
How much more still pure guess; is this farce but have with little time we have been granted by European weakness expires every day, not economic ills that plague which fix USA bound ist.Aber one thing is sure, the dollar is weaker today morning as everyone around the deception has caught, on.
In the Forex market:
Aussie (AUD):The Australian is lower this morning when PPI numbers came in much lower than erwartet.Der PPI won. 3% vs. a expectation. 8%.The true indicator be CPI figure Wednesday, when the need for higher than expected rate more walks going forward.Should you the number closer to the PPI data, then the chance more interest rate increases would be considerably which could pressure on the Aussie.
Kiwi (NZD):The Kiwi is this morning against the other risk currencies on interest rate differential speculation and US dollar weakness, but on lower vs. Yen and Euro higher trade gemischt.Mittwoch evening brings the RBNZ rate conform to guidelines, and at this point is the expectation for a 25bp hike.
Loonie (CAD): The Loonie is also mixed, oil, 78.25, but still close the last heights low is weak dollar not dragging is the Loonie lower than expected and 9.2 could Canadian insolvencies fell % shows that the economy better basis may.
Euro (EUR):The euro is also mixed as the market is trying to decide what the stress tests to make.Obvious US dollar weakness has helped its strength and the market should decide, past the stress tests to move, then CPI and employment pay later this week come back at the Centre.
Pound (GBP): The pound is higher everywhere in a sequel to last week gains despite the fact that the housing from pay price for the first time in almost 15 months fell.This is the kind of messages that the BOE hopes for restricted as rising inflation rate hikes in uncertain environment by tax economy just might.
US dollar (USD):The dollar is niedriger.Einige which risk appetite, some due to lousy economic policy.There is not much what could happen in the United States to make me positively on the dollar, so see risk around the world that may be the only rider of the dollar strength as a safe haven asset.
Yen (JPY):The yen began later in the morning but is giving some gains, such as risk appetite traction kann.Dazu win one dollar weakness, the part is the tacit acceptance of the euro bank stress tests. reports later in this week Japan CPI data that show sustained deflation task.the will be question whether slowed deflation or what, if anything, the BOJ and intend to do Government.
Part of financial participation requires a suspension of disbelief and an assumption that may not always be things, as you say scheinen.Ich, my mentor clients all the time: the purpose of which is investment in markets making money right not to be.
Can so while I disagree with the way things are way or with the "truth" as it is reported, I'm getting ready to put my personal feelings aside and achieving my end goal with market: verdienen.Es money makes no sense to fight the market like "The market irrational stay longer, can remain as you solvent".
This was one the first mantra drilled, in my mind, as I my trading career and now more began because per I realize its truth tun.Ich hope you do too.
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