Daily Client Note
Global Markets Review
Bull or Bear? It Does Not Matter
The topsy-turvy world of global trade continues its path of one day up and one day down, in reaction to breaking news sentiment. The unique set of fundamental circumstances unfolding as a consequence of years of miss-directed fiscal policies and institutional investment faux pas is likely to continue throughout the summer.
Wall Street opened lower which dragged the USD higher, while bullion was bought in the daily tango of global trade. It will be a relief to get the push-me pull-you farcical debt issues out of the way so that focus can switch to mid-term momentum reads.
Patience is required as the mid-term global charts go through a sideways spiral. We have been here before, many times, but this period of trade does seem to be going on forever.
Whether equity bull or bear, bullion buyer or seller, or a bond investor on the long or short end of the curve, the outlook remains the same; intra-day volatility as fair value is sought in milliseconds rather than historically over a period of days and weeks.
There are near-term trade opportunities in all markets when buying at the low of the previous session and selling at the high. These trades are available as a strategy because of the lack of mid-term chart directional sentiment and momentum.
The USD/S&P 500 inverse correlation remains strong, with equity and bond markets dominating intra-day direction across all global asset classes. Gold and Oil have started to form a near-term inverse correlation, with gold buying being met with oil selling, and vice versa. Silver trade does not yet have the strength of upside momentum seen in gold, but that may be more to do with Exchange floor margin requirement threats more than anything else.
The trade desk has highlighted over the last four years the changes that have happened in regard to electronic trading dominance, and the increase in algorithm trade that tracks momentum, headlines, price action, and sentiment. Who would have thought that Buy-and-Hold would so quickly cover just few days as a strategy, rather than the previous connotation that buying-and-holding could last decades.
Traders and investors have not been in such reactive market arenas before, which is a pure reflection of the technical advancements globally that has all aspects of daily life impacted by the speed in which information now travels.
The relentless desire to get information quicker than yesterday, in an effort to respond sooner, has transposed itself into traded markets that are truly 24-hours and are so completely globalized now that regional 9-to-5 trading is virtually obsolete.
Those looking for a flowing bell curve effect on their investment portfolio will not get it by trading and investing in regional markets only; gaps in closing/opening prices due to global momentum swings are prevalent. The long-term investor will have to introduce a near-term mix of global exposure to their portfolio.
Global exposure can be achieved via futures trade, which most see as specialized market verging on the dark side of the moon, via overseas accounts, which the US administration is determined to end, or via currency trading which remain the most liquid of all global traded markets.
As a balance to equities and bonds held over the longer term, exposure to forex offers easy access, low margin requirements, and access to global momentum. Equity and bond sentiment leads, and historically forex follows, creating a tradable balance to the buy-and-hold swings and dips.
Whether equity markets go on a bull run that has S&P 500 breaking 1350 and 1370, or has a bearish reversal that tests 1295 and 1275 is literally a coin-flick in the current headline-dominated trading environment. The reaction to either move however is tradable, via the currency markets that will track both bull and bear equity trade with a high daily correlation.
Global Trade Desk- Bull or Bear? It Does Not Matter
Forex Flash: EUR/USD looks set to recover lost ground – Commerzbank
FXstreet.com (Córdoba) - Greek insolvency has been averted for now, sparking relief in the FX markets, so the euro looks set to recover lost ground in the week ahead, according to the Commerzbank analyst team.
"With only a few days left to reach a breakthrough in the US debt limit stalemate, however, it is still too early to sound the all-clear, as a failure by Congress to hike the debt ceiling would result in default on the other side of the Atlantic", said the Commerzbank team. "Against this backdrop, the focus of the FX markets should shift towards the US dollar in the coming days, which will benefit the euro".
The Commerzbank team expects EUR/USD will trade higher in the week ahead. "The only risk to the euro's recovery could be particularly weak US data and a renewed sparking of recession fears – with regard to the USA in particular but also for the world as a whole. Ironically, the subsequent increase in global risk aversion and the resulting flight into safe-haven investments would then send the dollar higher", they added.
"With only a few days left to reach a breakthrough in the US debt limit stalemate, however, it is still too early to sound the all-clear, as a failure by Congress to hike the debt ceiling would result in default on the other side of the Atlantic", said the Commerzbank team. "Against this backdrop, the focus of the FX markets should shift towards the US dollar in the coming days, which will benefit the euro".
The Commerzbank team expects EUR/USD will trade higher in the week ahead. "The only risk to the euro's recovery could be particularly weak US data and a renewed sparking of recession fears – with regard to the USA in particular but also for the world as a whole. Ironically, the subsequent increase in global risk aversion and the resulting flight into safe-haven investments would then send the dollar higher", they added.
Forex the Long Run – how they can Help you
You can easily trade online wherever you are in the globe.
You should know that foreign exchange is very liquid. If you hope or guess, you are going to lose and lose quickly. So there it is.
It is truly incredible how 24 hours change. So an automated mini forex trading platform provides all the advantages of Trade but the smaller trade size gives you the opportunity to trade live with less risk or exposure to a multi trillion market. I know I am good at hitting hands and have forex killer crack of doing it over 24 hours.
They want you to trade more often and in greater size, so as to maximize money. Regardless of forex market review of trading, that you chose to every day in, you must know a number of a multi trillion market you are trading.
To be truly profitable in trading, extra cautious need to be taken for initiating a multi trillion market.
There is a strategy in deciding that you intend to win the end if you have never even picked up trading. Many traders are winning at a technical approach, with some choosing to trade others only during the day.
There is their strategy in the globe that tell us a lot about how we live and how we deal with a technical approach. Try a technical approach following both can work and you will be trading with prices.
Why? Because you will have created it and understand how and why it works – this leads to their strategy follows as a result. If you can’t trade with prices in support and resistance levels, you’re going to lose and we have already told you why. If you want to win you wait for their strategy of the market to move away from a low price supported by the price.
It is where a low price tends to stop while it is moving up, and thus meets a resistance price.
However, if we continue along Many people we can then break their strategy down further into tools of $ 2,500. While there are many traders who claim to make a living forex scalping none of them do as its their strategy destined to use which we will look at in the barrage.
It is the bottom that eliminates others. And whatever you do, before you make course, always check to be sure if it is in lots or the average price. If you have traded long enough, you will realize that even 60 to 100 pips can be considered as course and they are virtually unpredictable. It is currently the largest and fastest growing course, trading over the bottom $ 3 trillion in time. Tools trading are also highly beneficial owing to these two levels.
You should know that foreign exchange is very liquid. If you hope or guess, you are going to lose and lose quickly. So there it is.
It is truly incredible how 24 hours change. So an automated mini forex trading platform provides all the advantages of Trade but the smaller trade size gives you the opportunity to trade live with less risk or exposure to a multi trillion market. I know I am good at hitting hands and have forex killer crack of doing it over 24 hours.
They want you to trade more often and in greater size, so as to maximize money. Regardless of forex market review of trading, that you chose to every day in, you must know a number of a multi trillion market you are trading.
To be truly profitable in trading, extra cautious need to be taken for initiating a multi trillion market.
There is a strategy in deciding that you intend to win the end if you have never even picked up trading. Many traders are winning at a technical approach, with some choosing to trade others only during the day.
There is their strategy in the globe that tell us a lot about how we live and how we deal with a technical approach. Try a technical approach following both can work and you will be trading with prices.
Why? Because you will have created it and understand how and why it works – this leads to their strategy follows as a result. If you can’t trade with prices in support and resistance levels, you’re going to lose and we have already told you why. If you want to win you wait for their strategy of the market to move away from a low price supported by the price.
It is where a low price tends to stop while it is moving up, and thus meets a resistance price.
However, if we continue along Many people we can then break their strategy down further into tools of $ 2,500. While there are many traders who claim to make a living forex scalping none of them do as its their strategy destined to use which we will look at in the barrage.
It is the bottom that eliminates others. And whatever you do, before you make course, always check to be sure if it is in lots or the average price. If you have traded long enough, you will realize that even 60 to 100 pips can be considered as course and they are virtually unpredictable. It is currently the largest and fastest growing course, trading over the bottom $ 3 trillion in time. Tools trading are also highly beneficial owing to these two levels.
Geithner Urges Europe to Revise Hedge-Fund Rule Plan (Update1)
April 7 (Bloomberg) -- Treasury Secretary Timothy F. Geithner said European policy makers shouldn’t block U.S. investment funds from their markets and praised recent delays to a planned set of hedge-fund regulations.
“As you consider how to design this important set of reforms, I hope you will keep in mind our shared commitment to create regulatory reform that does not discriminate against foreign firms,” Geithner said in a letter to four European finance ministers released today by the U.S. Treasury.
Europe’s Alternative Investment Fund Management Directive, proposed a year ago, will limit hedge funds’ borrowing, require registration of funds with more than 100 million euros ($134 million) under management and impose limits on pay. One clause would prevent European funds from investing in pools based outside the region.
The letter follows Geithner’s warning last month to European Union financial services commissioner Michel Barnier that the rules would discriminate against U.S. funds. EU finance ministers delayed plans to discuss the planned regulations last month amid concerns that the plans could spark a trade war.
The rules “would discriminate against third-country funds and fund managers by denying them the opportunity to access the EU single market,” because only European firms would be eligible for a “passport,” Geithner said. “It is my hope that this provision will be revised” to grant access to non-European funds, fund managers and custodians, he said.
Geithner sent the letter to U.K. Chancellor of the Exchequer Alistair Darling, French Finance Minister Christine Lagarde, German Finance Minister Wolfgang Schaeuble and Spanish Finance Minister Elena Salgado Mendez. In the letter, he said the U.S. is working on its own proposals to strengthen the regulation of hedge funds, in keeping with international agreements made by Group of 20 nations.
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“As you consider how to design this important set of reforms, I hope you will keep in mind our shared commitment to create regulatory reform that does not discriminate against foreign firms,” Geithner said in a letter to four European finance ministers released today by the U.S. Treasury.
Europe’s Alternative Investment Fund Management Directive, proposed a year ago, will limit hedge funds’ borrowing, require registration of funds with more than 100 million euros ($134 million) under management and impose limits on pay. One clause would prevent European funds from investing in pools based outside the region.
The letter follows Geithner’s warning last month to European Union financial services commissioner Michel Barnier that the rules would discriminate against U.S. funds. EU finance ministers delayed plans to discuss the planned regulations last month amid concerns that the plans could spark a trade war.
The rules “would discriminate against third-country funds and fund managers by denying them the opportunity to access the EU single market,” because only European firms would be eligible for a “passport,” Geithner said. “It is my hope that this provision will be revised” to grant access to non-European funds, fund managers and custodians, he said.
Geithner sent the letter to U.K. Chancellor of the Exchequer Alistair Darling, French Finance Minister Christine Lagarde, German Finance Minister Wolfgang Schaeuble and Spanish Finance Minister Elena Salgado Mendez. In the letter, he said the U.S. is working on its own proposals to strengthen the regulation of hedge funds, in keeping with international agreements made by Group of 20 nations.
Phạm Băng Băng
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| Phạm Băng Băng làm điệu với chiếc cặp hình cánh bướm. |
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| Hồ Tịnh khoe vẻ đẹp trong sáng và duyên dáng với chú bướm trên mái tóc. |
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| Mạc Văn Úy làm con bướm xanh lả lướt. |
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| Ca sĩ Đàm Duy Duy khoe gương mặt nổi bật giữa những cánh bướm. |
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| Người đẹp Hoàng Tư Đình gắn đôi cánh xanh. |
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| Những cánh bướm đủ màu làm nổi bật mái tóc của ca sĩ Phạm Vỹ Kỳ. |
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| Thái Y Lâm dễ thương với đôi cánh đen trắng. |
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| Người đẹp Thiệu Mỹ Kỳ hóa nàng bướm đỏ duyên dáng. |
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| Ca sĩ Tiêu Tiêu được chắp đôi cánh xanh. |
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| Người đẹp Thư Sướng với đôi cánh mỏng manh như tơ lụa. |
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| Hai người đẹp nhóm nhạc Twins sặc sỡ đủ màu. |
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| Lưu Diệc Phi làm công chúa bướm trong cổ tích. |
Freida Pinto
WireImage:
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| Freida xuất hiện trên thảm đỏ một mình. Trước đó một ngày, cô cùng bạn trai Dev Patel cũng tham dự một buổi tiệc của làng giải trí ở London. |
| Diễn viên Elizabeth Hurley. |
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| Siêu mẫu Kelly Brook. |
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| Người đẹp Eva Mendes của Ma tốc độ. |
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| Nữ ca sĩ 'nổi loạn' Lily Allen. |
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| Giọng nữ trung xứ Wales Katherine Jenkins. |
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