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Friday, June 24, 2011

Government won a vote of survive protesters vent di27atisfaction

Greece Government Wednesday (22nd) win the vote, which is key to avoid the country's sovereign debt default. Meanwhile, thousands of protesters outside the Parliament excoriate.

155 to 143 to the restructuring of Parliament after Greece vote of confidence in the Government, and two abstained. Prime Minister Papandreou's Socialist Party members are all firmly support the Government.

Papandreou canvassing for the last time before the vote: "if we are timid, if we give up this opportunity, history will be severely judged us. "

vote immediately have an impact on the market, euro gains, but dealers said the continued concern of the implementation of related measures, limited the euro cent.

Against the yen slightly consolidation await the Fed meeting results

zhongxinwang, June 22   zhongxinwang financial channel from Japan's Kyodo News Agency was informed that the Web site, Tokyo foreign exchange market the dollar 22nd opening 80.24, modest 0.06 per cent compared with the previous trading day, the euro against the yen also rose 0.20 per cent.

under the influence of rising stock market, the yen slightly down, but ' tomorrow morning United States Federal open market Committee (FOMC) will be published on the outcomes of interest, then Federal Reserve Chairman Ben Bernanke also will hold a press conference, investors await direction. In addition Greece debt prospects remain uncertain, wait-and-see atmosphere of the market, trading is inactive. (Zhongxinwang financial channel)

Europe debt crisis restraining demand for Asian exports slowing Asian central banks raise interest rates or

according to the media Wednesday (22nd) reported that the debt crisis in Europe and United States economic slowdown are suppressing demand for Asian exports, even witnessed inflation weakened domestic spending, slower export demand also provide an excuse to the Asian central banks to slow down the pace of interest rate.

the latest data show that India and Thailand export growth has slowed. Switzerland Credit (Credit Suisse Group AG), because United States subdued pace of economic growth, China's exports likely to halt this summer.

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for support respective economic Area exports, lower the speed of currency appreciation, protection, decision makers may be forced to defer action for a further rise of all Asian countries. This might stimulate inflation rise, China rose May CPI accelerated to a 34-month high.

Banking Corporation (HSBC) in Hong Kong Newman (Frederic Neumann) said: "If the economic data continues to deteriorate in Western countries, Asian central banks could abandon its policy of austerity, we believe that this will eventually stimulate inflation to rise further. "

fed in Australia (RBA) on Tuesday (21st) says in the minutes of meetings, will measure the European debt crisis and the domestic economic growth and inflation rise is expected to decide whether to raise interest rates. Since October 2009 after interest rates seven times, Australia always sit on the fed in the last six meetings.

Australia fed minutes, data for these months do not increase the urgency of fed adjusted monetary policy, international economic downside risks slightly more visible.

Greece debt default risk as well as the United States slowing economic growth has boosted demand for Treasury bonds, indicating that investors are lower for high yield of the desired. Because the market is increasingly worried about Europe's debt crisis led to Australia the most rapid pace of economic growth in a decade derail, Australia two-year continuous rise in bond prices, and is expected to hit the collapse of Lehman Brothers (Lehman Brothers Holdings Inc.) The longest rally since the fall, government bond yields decreased in 21st 28 basis points, to 4.63% in the lowest since March 31.

Switzerland Credit Embassy Singapore Deepak Agrawal, fixed income Strategist (Ashish Agrawal) said: "If the Asian central banks continue to wait, but remains committed to tighten policy, it means that the demand for short-term government bonds would appear even more good. "

Euro fall limited focus on Fed policy meeting

consistent with expected, Tuesday (21st) Greece Government won the vote. As investors into profit, Wednesday (22nd) EUR/USD fell modestly, but as the market focused Federal Reserve meeting, EUR/USD is expected to fall much. Afternoon Greece debt issue's focus will shift to 78 billion euro austerity programme, this month's vote.

Greece after the Government won a vote of news, analysis after 1.4432 on EUR/USD short below the rapid withdrawal from 1.437, located near 1.4457 short term resistance is expected, that point is decreased since June 17 of 61.8% drawing back, resistance at 1.4549.

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France Industrial Bank (601,166 , Unit) (Societe Generale) Sabestian Galy, an analyst said that "more moderate withdrawal of the current euro/US dollar, we should not blame investors into profit."

in addition, the expected EUR/USD fell by a smaller, support on Tuesday near the intraday low of 1.43.

Deutsche Bank (Deutsche Bank) Alan Ruskin, an analyst said that "investors buying after the rumors appeared, after putting down the rumour sell, EUR/USD is expected to be in this case under pressure. In addition risk asset market is not expected a large number of short, one reason is that markets widely expect the Fed will maintain low interest rates unchanged. "

00:30 fed in Beijing on Thursday announced the latest monetary policy resolutions and issued a statement after the meeting. Chairman of the Federal Reserve? Bernanke (Ben Bernanke) will be held in Beijing Thursday 02:15 News Conference.

of the Federal Reserve on Tuesday began a two-day monetary policy meeting, signs of a slow economic recovery could force policymakers to worse situation at a meeting to develop solutions.

earlier today, the dollar index hit to a one-week low of 74.516, now recovered to near 74.7, last week had hit a high of 76.015.

the dollar/Yen movements not maintained in early trading 79.50-81.50 trading in Asia. 11:49 ', $ 80.26/yen, down 7 points.

hit after the AUD/USD rose from 1.06 to 1.0592. ' 11:49, Australian/US $ 1.0577, down 29 points.

fed in Australia (RBA) meeting minutes showed Tuesday, fed in no hurry to raise interest rates in Australia since Australian dollar under pressure. But Australia fed pointed out that, because of the vigorous development of the mining industry brought a strong growth of the economy, is expected to raise interest rates some time in. End page to join the body

United Kingdom bank minutes of the June doves singing melody Brod stand a mild

United Kingdom Bank (BOE) on Wednesday (22nd) June 8-minutes, MPC 7:2 through interest rates remain unchanged, only Weir (Spencer Dale) and Dell (Martin Weale) continue to demand higher interest rates 25 points while MPC scale invariant to 8:1 through the maintenance of quantitative easing, David berson still proposed expanding the scale of quantitative easing to 250 billion pounds.

is of concern, members of the new MPC Broadbent (Ben Broadbent) agreed with the majority opinion as expected, did not follow the MPC member before sentansi (Andrew Sentance) urged to raise interest rates. The minutes, Broadbent requirements to maintain interest rates unchanged. Hard-liners sumdex's departure, fears United Kingdom's Central Bank's monetary stance will become more moderate.

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latest announced of meeting summary of display , The new members of Broadbent's moderate policy positions, follow most of the views of members. This already reflected in his confirmation hearing. Broadbent was not only emphasized the economic downside risk, also expressed no concerns about inflation expectations too. After the announcement, Sterling expanded decline, hit a intraday low of 1.6145.

Central Bank meeting minutes also show that MPC members have said, little sign of the CPI to rise will affect the salaries, weak domestic demand or beyond the previously expected, said more than one of its members or a need to expand the scale of quantitative easing, some members considered that if the downside risk of inflation to become a reality, may be a need for more quantitative easing.

banks and noted that the rise in the medium-term inflation risks in the past month, and the upside risk stability. United Kingdom Bank of pessimism towards the Economic Outlook. The Central Bank said, the current weakness of domestic demand may exceed the previously expected, and the United Kingdom or similar to the 1 quarter 2 quarter economic performance.

Central Bank noted that weak economic growth prospects, latest data show that 2011 mid-term GDP growth may be lower than the historical mean. Central Bank of the future United Kingdom expectations of economic recovery are starting to change, weak economic performance will be significantly suppressed United Kingdom expected Central Bank tightening.

the minutes also show that increased downward risk to inflation in May. Few signs of limits is shifting to pay higher inflation. Second-quarter GDP may be similar to the first quarter. Weak demand duration may be longer than expected. End page to join the body

Before New York easing expected tumbling pound concern the US Federal Reserve interest rate resolution

Wednesday morning Greece successfully passed a vote of the Government, subject to boost Asian equities continue to rise, Japan's stock market closed 1.8%. However major high interest currencies such as Euro News chonggao to decline against the dollar, showing the expected result is only temporarily ease the market on Greece debt concerns, Greece on the road to solve the debt problem continued to face many challenges and uncertainties. Next Greece must be within the next two weeks to persuade Parliament approval of the Government, amounted to EUR 28 billion 5-year tax increase and Red reduction plan, to get EU/IMF € 12 billion assistance loan, despite domestic opposition calls for more and more strongly. If the Red reduction plan passed, Greece is expected to gain greater market confidence in markets were expected to continue to pay close attention to Greece's latest developments.

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European period euro/dollars finishing Yu 1.44 below, other non-beauty currency also maintained high consolidation of trend. However, the pound's weakest, their joint summary of the June meeting of the Bank crackdown sharply. Minutes-British 7:2 ratio of the members of the Bank's decision to maintain interest rates unchanged for 0.5% and GBP 200 billion asset purchases, Member of Weir and the Dell of which interest rates 0.25%, Lea Thompson once again proposed the expansion of Bank asset acquisition GBP 50 billion to 250 billion pounds, Broadbent new members advocated to maintain interest rates unchanged. Concerned is more than one of its members on the interest on the Conference considers it necessary to expand the scale of quantitative easing, confirms members of Fischer's speech yesterday. Affected by the crackdown, the pound fell sharply after the minutes fell, is worshipped more in the stock market fell under the pressure of expanding decreases. However other than sterling high interest currencies as a whole, waiting for the Fed's interest rate and resolution Bernanke speech tonight. Currently on the market generally expected the Fed will maintain interest rates unchanged. However markets are more concerned about is Ben Bernanke launched on time, whether it be the end of QE2 QE3 and United States comments on the economic prospects. From the recent United States performance of weak economic data, Bernanke may be biased towards the position of moderate, and continued to release signals for sustained low interest rates, and does not rule out the lower United States economic growth expected in may, the dollar may be under pressure, not the United States is expected to be supported. But if the stock market fell after his speech, non-us rally ability to continue. (Zhong Ying)

European period data: Italy May trade account (non-EU)-1.8 billion euro, Qian value-3.072 billion euro; Switzerland June ZEW economic expected index-24.3, Qian value-11.5; eurozone April industrial orders annual 8.6%, expected 14.0%;

United States period data: United States April prices index months rate, eurozone June consumer confidence index initial value, United States last week EIA crude oil inventory changes; 00:30 fed announced June central bank interest rate resolution, 02:15 primary South grams speech;

euro/dollars European period by stock market promote maintained in days high 1.443 below narrow interval finishing, overall holding Caine, waiting fed interest rate resolution of promote. Stymied by a 50-day moving average, index rising, break the averages would accelerate the rebound.

$/Yen in fed interest rates before resolution of minor fluctuations, bought 80 required strong continue support for the exchange rate. However modest or if Bernanke speech tonight down United States economic growth forecasts, sharp fall in dollar/Yen will be suppressed.

GBP/USD European session by the British Central Bank crackdown further sharp falls in the minutes of the Conference, the minutes more than 1 per cent of members considered that the quantitative easing policy need to be expanded, depress the pound sterling fell full. In addition, European markets and the US stocks and Futures to decline also aggravated the currency's decline. Short-term resolution concern the US Federal Reserve interest rate. Figure poly plus channel back to the bottom again, but are supported in the low point in the early, keeping the exchange rate is still a chance to rebound.

the AUD/USD European session remain 1.5665-1.0610 rangebound, markets remain cautious in fed interest rates before resolution caused major currency pairs into finishing. Current expectations of Bernanke may cut United States economic growth forecasts and made a moderate policy positions, Australian dollar/US dollar is expected to be supported. But if US stocks after resolution decreases in interest rates, rising exchange rate of the Suppression of the rising risk aversion. Today technical indicators call, but faced 20, above 50-day moving average, and the downward trend line, such as multiple resistance, only break above resistance will only return upward trend in the near future, as it may continue rangebound. End page to join the body

United Kingdom expected Central Bank meeting records contain interest rates tumbling pounds was

the pound Wednesday (22nd), dollar General fell against major currencies, after the United Kingdom's Central Bank released the records of the meetings show policy makers that economic growth prospects deteriorated, some members believed that may need more stimulus measures.

due to Central Bank meeting minutes hinted United Kingdom interest rates is unlikely to be 0.5% up from record lows this year, and the Central Bank chose to implement more quantitative easing after more likely, the pound fell.

€/£ 0.90 for potential high 0.8976 of the test on June 8, as well as a critical mark, but analysts say the Greece debt crisis may limit the upside potential of the euro.

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pounds/dollars currently fell 0.71% , Trading near 1.613, will hit low point in June 1.6078 cut-about 1.6028 and 200-day moving averages, MACD the weaker levels could spell further. Friend Gavin,

nabCapital foreign exchange market strategist, said: "obviously, the United Kingdom's Central Bank will not raise rates soon, Sterling weakness is no accident. "

Euro/Sterling currently rising 0.78%, trading in the vicinity of 0.8930, Hidaka as 0.8946, June 8 to the highest. In addition, British pound/Swiss franc hit a record low point of about 1.3522.

United Kingdom June 8 meeting of the Central Bank on Wednesday announced record shows that United Kingdom's monetary policy Committee (MPC) considered that the prospects for economic growth weakens, some members raised the possibility of quantitative easing in the future.

Committee to 7:2 vote to maintain interest rates in the not buluodebante as expected new MPC members agreed with the majority opinion, does not follow the views of the monetary policy Committee, former member of sentansi called for higher interest rates.

later today, the market focus will shift to United States Federal Reserve (FED) policy statement and press conference of the US Federal Reserve Chairman Ben.

00:17 ', GBP/USD 1.6130/33, EUR/GBP 0.8934/36. End page to join the body

, Federal Reserve and the United Kingdom's Central Bank double depre16 Sterling hit bottom

Thursday (23rd) in early trading in Asia, GBP/USD trading at 1.6036, extended the previous session's decline, and hit a near three-month low of 1.6016. Overnight in Europe and United Kingdom interest rates of central banks and the Central Bank announced a separate resolution and remarks by the Central Bank official, respectively, making short power unprecedented strong Sterling, sterling was a heavy crackdown.

United Kingdom Bank (BOE) on Wednesday (22nd) June 8-minutes, MPC 7:2 through interest rates remain unchanged, only Weir (Spencer Dale) and Dell (Martin Weale) continue to demand higher interest rates 25 points while MPC scale invariant to 8:1 through the maintenance of quantitative easing, David berson still proposed expanding the scale of quantitative easing to 250 billion pounds.

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worth concern of is , Member of the new MPC Broadbent (Ben Broadbent) agreed with the majority opinion as expected, did not follow the MPC member before sentansi (Andrew Sentance) urged to raise interest rates. The minutes, Broadbent requirements to maintain interest rates unchanged. Hard-liners sumdex's departure, fears United Kingdom's Central Bank's monetary stance will become more moderate.

Central Bank meeting minutes also show that MPC members have said, little sign of the CPI to rise will affect the salaries, weak domestic demand or beyond the previously expected, more than one Member said the need to expand the scale of quantitative easing, some members considered that if the downside risk of inflation to become a reality, may be a need for more quantitative easing.

banks and noted that the rise in the medium-term inflation risks in the past month, and the upside risk stability. United Kingdom Bank of pessimism towards the Economic Outlook. The Central Bank said, the current weakness of domestic demand may exceed the previously expected, and the United Kingdom or similar to the 1 quarter 2 quarter economic performance.

poor economic data showing United Kingdom economy remains weak, making United Kingdom banks still taking quantitative easing monetary policy to promote quick recovery of the economy.

United Kingdom national statistical offices (Thursday data displayed on The Office for National Statistics, United Kingdom in May retail sales month of the quarter adjusted rate dropped 1.4%, biggest drop since January 2010, expected to fall 0.6% value before 1.1%.

United Kingdom national statistical offices on Wednesday according to the United Kingdom May unemployment rate was 4.6%, United Kingdom May applications for increase in the number of unemployed 19,600 people, United Kingdom since July 09 high number of applications for unemployment.

Central Bank noted that weak economic growth prospects, latest data show that 2011 mid-term GDP growth may be lower than the historical mean. Central Bank of the future United Kingdom expectations of economic recovery are starting to change, weak economic performance will be significantly suppressed United Kingdom expected Central Bank tightening.

the minutes also show that increased downward risk to inflation in May. Few signs of limits is shifting to pay higher inflation. Second-quarter GDP may be similar to the first quarter. Weak demand duration may be longer than expected.

in the United Kingdom's Central Bank announced after the meeting minutes the pound suffered a first round of the crackdown. And yesterday into the United States after a period, resolution published by the Federal Reserve interest rate, and Federal Reserve Chairman Ben Bernanke's remarks, makes pounds once again subjected to suppress frustration.

interest rate after the resolution on Wednesday, the Fed announced benchmark interest rate in 0-0.25% does not change, and to maintain the discount rate unchanged in 0.75%, while reaffirming for quite a long time kept the benchmark interest rate at very low levels, and for the second round of 600 billion of quantitative easing bond purchase plan will be completed this month.

Ben Bernanke said the pace of economic recovery is still very modest, temporarily unable to find the exact reasons why SI would cause economic recovery continued to be slow, and the real estate market remains sluggish, the decline in the unemployment rate may be painful abnormally slow.

for the statement he made was again caused the market to the United States and fears of a global economic recovery, market risk sentiment serious pressure, dollar stronger overall. End page to join the body

Before New York risk aversion, the rising euro continued leading the non us

since overnight Fed President Bernanke published moderate policy position and downward United States economic growth expected 後, market on global economic recovery of concerns again crackdown global stock market substantially fell; plus Greece debt prospects still exists is large of uncertainty, risk aversion emotional warming makes investors have selling stock, and bulk merchandise and euro, and pounds and AUD, high income currency, and risk aversion assets dollars, and yen and Swiss lang was support.

European stock market low open low go, disc in the three large stock market fell over 1%, euro, and pounds and AUD, high income currency against risk aversion currency dollars, and yen and Swiss lang in European period continues to full fell, which was British Central Bank loose expected crackdown of pounds against dollars further fell to 12 week low and in technology Shang down breakthrough, its short-term trend not optimistic; euro/dollars by Germany, and eurozone economic data and Greece concerns crackdown also substantially fell. Early data show June services, manufacturing, and integrated in the eurozone purchasing managers ' index (PMI) set 6, respectively, 21 and 22-month low, Germany June manufacturing purchasing managers ' index also recorded its lowest level in 17 months. Weaker euro area statistics certainly exacerbated investors concerns over the global economic recovery, and hindered economic recovery in the eurozone will also affect the resolution of debt crises, this also increases the Greece through resistance to austerity plans. Euro in the near future may continue to be the Greece problem of suppressing, potential risk aversion may also continue to make commodity money such as Australian dollar under pressure. (Zhong Ying)

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European period data: Switzerland May trade account 3.3 billion Swiss lang , Expected 1.68 billion Swiss lang; Germany June manufacturing procurement managers index initial value 54.9, expected 57; eurozone June manufacturing procurement managers index initial value 52, expected 53.8; United Kingdom May BBA housing mortgage loan license 30,509, expected 30,000;

United States period data: United States last week early please unemployment gold number, United States May new housing sales;

euro/dollars overnight in 50 daily line near blocked 後 full fell, European period tail disc further fell to 1.42 near, dollars index in fed interest rate resolution 後 full rebound, and global stock market fell and Greece concerns led euro/dollars all fell. Short-term support at the 100-day moving average of 1.418, dropped below the low 1.4 before further testing.

US dollar/Japanese yen in Europe continue to rise to touch the Asian city high 80.63, across-the-Board fall in European stock markets and commodity prices, risk aversion continues to provide support for the dollar. Estimated US stocks continued to fall, the exchange rate is expected to continue to be supported. Technology held steady on the 20th, will further test averages above 50-day moving average close to the 81.

decreased GBP/USD European session to remain fully touched 12 low 1.5975, Britain's Central Bank USD speech moderate, yesterday in the rebound after Fed rate resolution full and very weak exchange rate of the global stock market leading performance. Technology day fell below 200-day moving average line, in the short term may further drop to 1.59.

the AUD/USD fell to promote continued to plunge, United States time ago currency held steady above the bottom interval 1.05 in the near future for the time being, technically fell below low 1.044 before room for further downward near the opening Exchange rate today, stochastic indicators also fell again in the middle of the risk. United States release United States employment and housing data, concerned about the stock market performance after the data. End page to join the body

Greece austerity progra40es not optimistic about the euro's low pre12ure

it is learned, Greece new Cabinet has approved the draft Bill in the implementation of the new fiscal plan, but Bill can be voted before the month is not optimistic, this will affect the outside world on Greece for further assistance, together with Italy and Spain no small risk of outbreak of the debt crisis, the market continued bearish the euro.

one Greece 22nd says of government officials, as accepting the European Union and the International Monetary Fund (IMF), one of the remaining conditions for aid, Greece Cabinet approved on 23rd drafting bills to determine details of the new five-year fiscal measures.

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also one Greece Government officials said , Greece new austerity Bill of financial implementation of the plan will be submitted to the 24th Greece Parliament to vote and must end at the latest.

the "Euro purchase now. "Japan's third-largest financial institution DaisukeKarakama, analyst at Mizuho Industrial Bank," said Greece unless at an unprecedented rate for fiscal tightening, or additional loan assistance to that country only will postpone its breaking point. "

in the London market, EUR/USD fell to 1.4307, than the decline the day before 0.4%. According to Bloomberg, resolutions of the European Union on July 3 Greece meet tight fiscal targets and decide whether to increase its assistance.

Greece the Government won the vote, media said that this would help Greece resolve the current crisis will help Greece obtained the assistance of international institutions, through fiscal austerity programmes. However, Greece can finally implement further tightening of the financial plan, the key depends on June 28, can be adopted by Parliament. From here, the Greece debt crisis still exist uncertainty, this is also the factors impeding the further chonggao of the euro.

the United Kingdom reported the financial times, Greece opposition leader said on 22nd, the party will vote against the Government's latest austerity programme. AntonisSamaras centre-right parties of the new democratic party leader said the tax increase plan opposition, currently Greece's poor economic situation, tax increases will affect the residents ' consumption, thereby inhibiting economic needs.

rescue party manners softening, reflecting Greece debt crisis harms gradually increased. Germany Angela Merkel on 22nd warned Greece comprehensive and large-scale implementation of debt restructuring will have on financial markets "totally uncontrollable" effect, and may affect the financial stability of other countries.

Merkel comments confirmed she was in Greece's debt crisis has softened its position on the issue until last week, Merkel's stance should be excluded except Greece debt to private creditors possibilities other than voluntary debt moratorium, such as imposing a comprehensive debt restructuring.

Ms Merkel said, forcing reduced Greece debt repayments amount endangers not only banks and other investors to hold these bonds, will also hurt those with Greece debt payments does not breach the premise of providing investment insurance financial institutions.

she pointed out that those credit default swaps (CDS) is far greater than the value of the subject matter of the Greece debt itself, once the default clause is activated, the unpredictable consequences.

now Italy and Spain accumulation of risk of the outbreak of the debt crisis, is also on the prospects of the euro concerns lingering euro low short term trend is difficult to change.

Italy economy Ministry is working on measures aimed at by 2014 to cut budget deficit of 43 billion euros, new projects are expected to be approved by the Cabinet next week. Expect Italy 2011 budget deficit will fall from 2010 to 3.9% per cent of GDP. Compared to most countries in the eurozone, such a low level has a lot, but Italy's debt level has reached around 120% per cent of GDP, is the 17 Member States of the eurozone after Greece country.

Spain economic deterioration has just been IMF warnings, IMF said "the country's economy has not fully repaired, is at greater risk.

IMF call for Spain reform efforts must not cease to support recovery, reducing the unemployment rate up to 21%. Spain Parliament on 22nd by new labour market reforms, both employers and employees greater flexibility on the salary negotiation in the future, hope to boost investor confidence.

economists say implemented a 30 year old system too rigid, in Spain to combat recession, rush to create jobs, especially harmful. End page to join the body

Monday, June 20, 2011

CFTC investors for the first time in four weeks to increase its stake in the dollar short

Huitong network, June 4-

United States commodity futures trading Commission (CFTC) Friday (3rd) report shows that as of May 31 weeks, speculators dollars net short positions held by the small holdings, to 4 weeks for the first time to increase its stake in action.

according to the information released, m NET short positions held by the speculators last week increased to us $ 15.73 billion, $ 13.02 billion the week before. Data shows that the market for $ attitudes back worsened.

dollars overall position is based on international monetary market (IMM) speculators on Yen, euro, pound sterling, Swiss franc, Canadian dollar and Australian dollar positions calculated.

EU Ryan June is e34ential for the resolution of the European debt crisis

Huitong network, June 2-

the EU economic and Monetary Affairs (European Commissioner for economic and monetary affair) specialist Ryan (Olli Rehn) Wednesday (1st) in June, will is the key to overcome eurozone sovereign debt problems in a month, eurozone countries will need to reduce the debt at the same time solving problems in the banking sector.

Ryan said, according to initial projections, Greece may not be able to return to financial markets to finance early next year, the country needs to make some difficult decisions to repair related problems.

Ryan said: "of June will be the key to overcoming the debt crisis in Europe for a month. It is clear that at present have faced sovereignty in the eurozone debt crisis and fragility of the banking system of double trouble. Can determine is that the two issues must be resolved at. ”

Saturday, June 18, 2011

EU Ireland Spain Bank a13istance plans to extend the six months

European Commission 1st Ireland and Spain Bank national assistance plans to be extended for six months, to tide banks continue to help these two countries.

according to the decision of the European Commission, Ireland and Spain before December 31 this year, the Government will continue to be provided to national banking guarantees.

the EU Commission said in a statement, extension of Bank assistance plan to help Ireland and Spain to overcome severe economic turmoil is appropriate, also in line with EU provisions in the financial crisis for Banking provides assistance.

after the financial crisis, Governments of EU Member States have introduced massive relief programme. For the convenience of Member States to deal with the crisis, the EU also temporary relaxed the restrictions on Government subsidies.

Ireland initially was given in November 2009 as national bank guarantees support, subsequently extended several times, Spain from December 2008 began similar assistance scheme.

today, Ireland is still struggling in the sovereign debt crisis, Spain is also the Government debt, banking crises because of the real estate bubble burst. (According to the Xinhua News Agency)-

The Fed's balance sheet reached a record $ 2.79 trillion

hexun exchange messages up to this weekend, the Fed's balance sheet rose to a record of disciplinary 2.792 trillion dollars, and on June 1, the figure was US $ 2.78 trillion. The fed as the United States of the Central Bank, after the second round of quantitative easing, purchase from the market in the United States Treasury bonds to free up liquidity. Fed tries to loose monetary policy to stimulate the United States economic development does not pay high deficit of the Government. According to the US Federal Reserve meeting minutes of April, after the end of the QE2 still to continue with the assets in the interest of the Federal Reserve to buy bonds.

but now fed officials have begun discussing how to reduce such large balance sheet, some fed officials said the Fed's balance sheet in the short term would be difficult to return to normal levels. In December 2007, only $ 87 billion on the balance sheet of the Federal Reserve, which means that the fed directly to the market in recent years in the market of us $ 2.7 trillion of base currency. In these huge assets, the Federal Reserve held by the United States national debt hit $ 1.532 trillion, holding mortgage bonds amounted to $ 917.9 billion, and bank deposits amounted to $ 1.589 trillion.

Wednesday, June 15, 2011

United Kingdom April industrial output is now 20 months the largest ever

United Kingdom National Bureau of statistics announced on 10th, United Kingdom in April industrial production months ratio as 1.7%, the biggest drop since August 2009, year ratio 1.2%, far less than market expectations.  United Kingdom national statistical offices (Office for National Statistics,ONS) announced on June 10, United KingdoApril industrial output fell sharply, by the Royal Wedding and Japan earthquake.  According to the United Kingdom in April industrial production months ratio as 1.7%, the maximum monthly rate since August 2009 fall year than 1.2%.  United Kingdom in March industrial output correction for months increased by 0.2%, year up by 0.1%, initial value for the month rose 0.3%, year up 0.7%.  April data weaker than market expectations, economists had expected United Kingdom April industrial production month than flat, year by 1.3%.  United Kingdom April decline in manufacturing output months than 1.5%, the maximum monthly rate fall since January 09, year by 1.3%. Economists had expected, United Kingdom output months than in April decreased 0.1%, year by 3.4%.  United Kingdom March manufacturing output correction for months increase of 0.2%, 2.2% year rise, the initial value for the month rose 0.2, year up 2.7%. In addition, the United Kingdom first-quarter rise in industrial output from the previously announced 0.2% fix by 0.1%.

Risk of collapse of the dollar or have a significant impact on Chinese economy

late peak according to the voice of the news report, June 9 United States Fed President Bullard said, let the world, especially in China to shake. Brad says: August 15 draws near, the United States will face default risk is the world's most serious prouse in the June 5 4 days ago, the United Nations also warned dollars for the first time in danger of collapse.

Brad's voice is not falling, international rating agency Fitch warned that if the United States debt ceiling could not be at the end of August 2 or the Ministry of Finance set up period, the United States's sovereign debt rating will be placed a negative watch list. If the Treasury does not become due before the August 15 coupon, Fitch may United States puts the trend of local fallen plaster. If Treasury Bill cannot be paid of us $ 30 billion, due on August 4, Fitch will be transferred by 3A's bond rating to b, the dollar will collapse, the United Nations issued a warning that, if the US dollar against other currencies the dollar, the dollar may face a crisis of information or even collapse.

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from United Nations of sound undoubtedly let China playing cold Because the United States public debt of more than 50% of foreign investors, foreign Government head, of course, if the inevitable risk of the collapse of the dollar, then the global financial system.

Earth people know now the Chinese are United States largest creditors, according to financial data showed the Chinese Government, at the end of 2000 the foreign assets of more than $ 4.1 trillion, if United States debt problem, there is more than 4 trillion of dollar assets shrink rapidly, which for nearly 70 trillion assets in China, nearly half the wealth will be under the influence of a collapse of the dollar.

on China's economic influence is obvious of the dollar once the decline of China's foreign exchange reserves of loss is direct, international trade and investment will be difficult to properly to carry out currency exchange rate fluctuations on the dollar situation inevitable, commodities, and also specific fluctuations in asset prices, international hot money is a lot to China at that time, this is a trend is not available when. Under the current upsurge of United States debt if a crisis occurs, will focus on China's foreign exchange management, dislocation caused exports to China with investment, when the risk will increase economic hard landing in China, Americans through a technical breach of contract and other means to maintain. Li Delin

UBS 2013 inflation raging in binge or global

inflation is raging in the emerging economies in Asia could spread in 2013 to the world, 9th report said the UBS Wealth Management Research Department, as now widely adopt overly loose monetary policy in developed countries, is expected in 2013 in global iwill wreak havoc.

and mass disagreement, UBS emphasized, is made by the monetary hyper-inflation of the real reasons.

UBS noted that inflation is not caused by a Union or company, but by the "production" due to monetary sector, that is, the Government and Central Bank. If the latter relative to goods and services available for purchase that too rapid increase the money supply, monetary value will decline and inflation risk.

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Swiss silver economists is expected In 2013, commodity prices will continue to rise sharply in developed countries, inflation fluctuations will increase, when all major markets around the world will be affected.

the Bank said that over the past two years, developed in response to the economic downturn, to inject a large amount of liquidity into the economy, inflation in these countries are now no outbreak is because the credit and interest rate mechanism are still in a State of fail.

however, the Bank said inflation will quickly spreading in developed countries. "United States of excess capacity is being digested, if that advantage were exhausted, inflation from the United States and other developed countries are not far. "The reported warning.

Yen bulls into profit above the dollar against the Yen remained at 80

zhongxinwang, June 13   zhongxinwang financial channel from Japan's Kyodo News Agency was informed that the Web site, Tokyo foreign exchange market the dollar 13th held at over 80, opening 80.36, up 0.28 per cent compared with the previous trading day. 0.58 per cent decrease in the euro against the yen.

outside the Tokyo foreign exchange market continued the trend, Yen bulls rebounded into profit helped the dollar, but United States worrisome Economic Outlook make us $ uplink disruption, overall volatility is unlikely. (Zhongxinwang financial channel)

United States Treasury bond default risks increasing Wall Street brewing to reduce the use of

morning post Europe's debt crisis has not gone, United States appears to be from the debt crisis increasing near. United States legislators on June 12 local time (Beijing time yesterday morning) in Colombia broadcasting companies (CBS) "national" (Face the Nation) on the program said if Democrats and Republicans do not increase the federal debt ceiling agreement, United States Government will not be full payment due on August 2, US $ 30 billion debt, United States and European countries also fell into default risk.

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simple to said , By virtue of their Super credit, United States Government has been relying on massive borrowing to maintain operations, but finished last after a US $ 72 billion in bonds this year, May 16 United States law by the federal government debt reached US $ 14.3 trillion limit United States Treasury bonds cannot continue to get by. In half a month in the past, the Republican party has been "stuck" with the requirements of the Democratic party raise debt ceiling.

it was also United Kingdom Financial Times reported yesterday that United States senior bank executives revealed that some of Wall Street's biggest banks have been prepared in August cut the United States Treasury, to prevent does not increase the debt ceiling as a result of any market volatility.

Bernanke this or a stern warning

from the preceding statements on the CBS program is United States Chairman of the Budget Committee, Republican representative baoer·ruian (Paul Ryan). He said on the show, "I think debt reduction agreement reached to control the deficit helped to stabilize the market in the future, and can help us to achieve an economic recovery. "

now Republicans and Democrats are the key differences is how to reduce the deficit. The former believes that the Obama administration should undertake to reduce expenditure in order to reduce the deficit, in that premise in order to raise the debt ceiling; decision while the latter considered that the current economic situation the Government cannot reduce expenditure, to reduce the deficit can be achieved by giving tax the rich. To this end, the two parties since late May has been controversy, but still no progress until yesterday.

in fact, in 14th, local time (Beijing time tomorrow morning), Fed Chairman Ben Bernanke will attend the theme of "debt ceiling, financial planning and panic in the market: where do we go? "Meetings of the General Bernanke is expected to be the market today to the United States Congress issued a stern warning again, do not increase United States debt ceiling as a political bargaining chip.

he had previously stated that "cannot increase debt ceiling would be likely to be at the expense of raising interest rates, which would allow United States deficits worse and harm the interests of all borrowers. Worst of all, this could result in United States financial system back into instability, the United States economy particularly terrible impact. "

Wall Street rainy day

given the two parties over the situation, the banking sector has begun to plan ahead.

United Kingdom Financial Times yesterday cited an United States senior bank executives as saying that some of Wall Street's biggest banks are preparing in August cut the United States use of Treasury bonds to prevent any fluctuation in the market. It is reported that the banks plan to hold more cash, derivatives and other trading for security, thus reducing financial system of the United States national debt dependence.

"we plan to reduce its reliance on government bonds in early August, retained more cash as an emergency measure. "The United States a Bank Executive said.

United States national debt amounted to us $ 9.7 trillion, a significant part was sold to national investors. But according to JPMorgan Chase (JPMorgan Chase) estimates, United States near 40% issued bonds (about US $ 4 trillion) to support the buy-back transactions, futures and swaps. Precisely because of United States national debt plays such a key role for the wider financial system acts as a collateral, once by the two parties in the game and increase the debt ceiling raised debt default, leads to the financial system into chaos.

the CME Group (CME Group), said: "as the United States close to debt ceiling, we will continue to monitor liquidity conditions and appropriate collateral for discount. ”

Exchange Unified standard specification Bank foreign exchange and foreign currency conversion

⊙ reporter Dandan Li Liu Yufeng 0 edit

to standardize Bank Exchange settlement business itself, facilitating banking operations, foreign exchange recently issued the Declaration on improving the Bank's own Exchange settlement business management issues of law, from five regulated banks own current account and capital Exchange settlement and sales transactions and foreign exchange supervision. The circular will be implemented from July 1, 2011.

notification under a is reflected "balanced management", for bank capital (or trading funds) of this foreign currency conversion developed has unified of quantitative standard; second is reflected "facilitate operation", combination Bank itself knot sales meeting business of particularity, carding integration existing regulations in the on Bank itself knot sales meeting of management policy, specification part existing policy in the provisions enough clear of business; three is reflected "reduced audit", simplified Bank Exchange profit settlement of prior audit requirements, cancel Bank paid foreign shareholders of dividend, and dividend or foreign bank profit meeting out of prior audit requirements; four is reflected "caught large placed small", main specification on international payments and Exchange run has larger effect of Bank itself knot sales meeting matters; five is reflected "after supervision", reiterated on Bank itself knot sales meeting statistics and information submissions of requirements.

Greece protests the Government once again, the standard and poor's lowered its credit rating

Xinhua Athens, June 13 (reporter Liang Yeqian) Greece Ministry of Finance issued a statement on 13th, strongly protested the credit rating agency standard and poor's on its long-term sovereign credit rating from "b" down to "CCC".

p to Greece's short-term sovereign credit rating to c, the Outlook is negative. Poor's pointed out that Greece looks the possibility of debt restructuring is "up".

Greece finance said, according to meet the current for the Declaration of some rumors, but ignores the European Union and the European Central Bank and the International Monetary Fund currently under intensive consultations, seeking solutions within the next few years to meet Greece's financial needs.

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Greece Treasury also said , Poor's statement also ignored the Greece Government paid tremendous efforts to prevent a breach, as well as Greece aspirations of the people want to stay within the eurozone. Greece will be before the end of June by a medium-term fiscal policy to ensure that Greece's sovereign debt stable security.

Greece media that poor's lowered Greece's credit rating, happens to be the 14th of the eurozone Member States met in Brussels and the European Union Summit next week to discuss the previous day against Greece before the issue of further assistance.

6 1st rating agency Moody's had to Greece from the B1 down to Caa1 credit rating, prospect as a negative, have thrown Greece strong resentment of the Government.

Monday, June 13, 2011

United Kingdom's Central Bank kept interest rates at 0.5% unchanged in line with market expectations

19:00 hexun Exchange message Beijing time United Kingdom June central bank interest rates a resolution maintaining 0.5% benchmark interest rate unchanged, this result is consistent with market expectations. Scale at 200 billion pounds while maintaining the quantitative easing unchanged, although this result is in line with market expectations, but the fall of the pound against the US dollar still appears a short, below 1.64. United Kingdom central banks announced interest rate and made no statement after the resolution.

    Wednesday (8th) news that ratings agency Moody's warned United Kingdom will lose its AAA rating, Sterling fell sharply. Then Moody's come forward to clarify will continue to maintain United Kingdom AAA rating Outlook stable, but if the United Kingdom and the decline in economic growth weak fiscal consolidation or reconsidering the rating. United Kingdom central banks have interest rates remain unchanged for the 27th month in a row, this seems to suggest the United Kingdom or inflation performance in a more optimistic, and Fed Chairman Ben Bernanke on Tuesday evening speech revealed that United States economic recovery has been slow, when the economy is flagging performance in Europe and United Kingdom economy is confidence inspiring. And in fact United Kingdom inflation rises to inflation of more than 1 time, to reach 4.5%, at the same time face pending problems recent rise in oil prices and price increases of public utility companies, United Kingdom some members of the Central Bank can only temporarily tolerated.

Australian monetary policy lack guidelines four investment banks disagreements

Federal Reserve on Tuesday in Australia (7th) kept interest rates at 4.75% unchanged, in line with market consensus forecast. Australia fed this is not a warning in the next few months, or need to tighten up policy to curb inflation, which makes some people by surprise.

Australia fed only in monthly policy issued a brief statement after the meeting said that in view of the Economic Outlook, the current level of interest rates appropriate. This is when the Federal Reserve monetary policy prospects May differ, in Australia at that time the Federal Reserve said, you may need to raise rates further.

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market originally on is expected this times meeting interest rates of chances is small , The Declaration of the Conference further reduces the possibility of July or August to take action. Australia fed first started to raise interest rates in other developed countries, accumulated interest rates by 175 basis points since the end of 2009.

four institutions express their opinions on this:

Commonwealth Bank of Australia (CBA) senior analyst Michael workman: "will be concerned about the next June when the quarter data, these data will be released at the end of July, that's why we believe August is likely to raise rates, unless the employment data released Thursday showed strong growth, that case may in July to raise rates. In August but we still think it will raise rates. We expected to raise rates again in August and November respectively, make index rates to reach 5.25% at the end. "

Macquarie Bank (Macquarie Bank) senior analyst Brian redican:" their language seems to be a monetary policy statement May be back, when they said Zeng Qingchu, you may need to further tighten policy. This statement is completely silent on this point. Instead is that statement sounds very like May a statement after the meeting. This was confusing. We believe that they will publish more of this tough speech. However, the face of it, this implies that it is not in a hurry to take interest rates. "

JPMorgan Chase (JPMorgan) analyst Ben Jarman:" the Central Bank decision to maintain interest rates unchanged, as we expected, we believe that August would be the appropriate point to raise rates again. Australia fed is clearly not hurry to raise rates. They did say the rate of inflation will be closer to the target level in the next 12 months, but we still believe that the Central Bank's next step will be to raise rates. Today, I would like to change is the only point of concern in the statement of the Bank, in a statement did not say if all aspects of development, as expected, rising CPI is expected to accelerate. This implies that they may also want to look for more clues about the inflation situation. Second quarter inflation data will be very important. "

Yi link industries (ICAP) Chief Analyst Adam said:" I am surprised. They also need? this is a major problem. We do not have any guidelines from the statement, we do not understand what they are waiting. We have to wait for the published record of the Conference. "

the Australia Federal Reserve policy statement does not have clear guidelines on the future monetary policy, future concerns of this interest on the record of the meeting, as well as Australia's inflation data.

16:08 ', AUD/USD 1.0705/07.

Trichet refused to promise interest rates caused by tumbling euro

hexun Exchange message 9th European Central banks announced interest rate meeting to maintain the benchmark interest rate unchanged, market focus on the Central Bank Governor Trichet's remarks after the meeting. Speech by Mr Trichet said inflation in the eurozone remains on high alert. Strong vigilance means that central banks may be in the position of July interest rate hike, but Trichet also stressed the strong prior commitments of the European Central Bank does not raise interest rates. While, Trichet also stressed has high inflation risk of while, is expected eurozone 2011 GDP increases in 1.5%-2.3% Zhijian; eurozone 2012 GDP increases in 0.6%-2.8% Zhijian, and EU statistics Wednesday announced of data display eurozone first quarter domestic production worth (GDP) per cent growth has reached 2.5%, this means with eurozone in this year next of time within GDP growth or will slowing, economic prospects also prompted funds accelerated outflow. Under the influence of Mr Trichet speech the euro dollar there is rapid decline, as ' 21:51, EUR/USD is 1.4506, while the euro fell to the lowest 1.4483.

QE3 expected us $ into Achilles ' heel at how Bernanke stance

recent United States published a series of economic data disappointing, United States economic recovery has gained momentum in the first half of this year decreased significantly, leading to last week, the dollar index fell rapidly. In addition, the Federal Reserve (FED) will end at the end of this month the second quantitative easing (QE2) also let dollar trend has added a greater degree of uncertainty.

$ weak payroll data at the weekend crackdown full down, coupled with the market for fed or take the third round of quantitative easing (QE3) expect sudden warming, analysts fear, fall of the dollar in the short term to launch a new round.

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however Mainstream media continue to believe that, the fed and not take the QE3. Despite the expected United States economic growth will slow, but surveys show that analysts believe the Fed after the end of the current quantitative easing plan at the end of this month, then implement round of purchased debt only 10% the possibility of stimulating initiatives to support the economy.

the Pacific (601,099, unit) Co-Chief Investment Officer, investment management company " King of bond " gross (Gross) also said that despite the recent United States employment data as expected, the Fed is unlikely to launch a third round of the quantitative easing policy. JPMorgan economist is considered, the Fed once again implementing quantitative easing policy would face political obstacles, the Fed very low possibilities of implementation of the third round of quantitative easing.

note that, while the dollar index May recorded since November last year, one-month maximum gains, but the outcome shows signs, signs United States economy is gradually slowing, probability also fed interest rates lower, encouraging investors to shift funds to higher-yielding assets. Another dealer also bearish dollar, eurozone officials agree to Greece to provide more assistance, and last week Germany Chancellor Angela Merkel said the EU is committed to keeping the euro intact.

on the occasion of QE2 near the exit of the Federal Reserve, the dollar is at a crossroads, US dollar up or down affects the mind.

UBS (UBS) Geoffrey Yu, currency strategist in London, said: " If the United States ended quantitative easing, will be the time investors stopped selling the dollar, however this view of the risk is that the Fed may continue to bond purchase plan, in order to support economic recovery. &Quot;

the US Federal Reserve Chairman Ben Bernanke in Beijing on Wednesday (June 8) made a speech on the International Monetary Conference in Atlanta, the market will closely monitor the published views on the economy. As the speech from the Fed end the QE2 only a few weeks away, investors will pay close attention to any of the Federal Reserve's next policy-related signals.

analysts believe Bernanke may admit that recently, the United States the reality of economic slowdown, but has reservations about the duration of this phenomenon.

analysts and say, as long as investors again the implementation of the Federal Reserve expected to remain in the third round of quantitative easing, medium and long term weakening of the dollar trend is inevitable.

15:40 ', the dollar index 73.75.

Thursday, June 9, 2011

Spain proposed the hundred compensation cucumber crack HIV the eurozone

EU internal of trade dispute, will deepened EU the Member States Zhijian already exists of various contradictions, and further push high EU integration mechanism Shang of coordination cost, this which including debt assistance of cost

local time on June 6, Spain agricultural Minister ajilier external open said, Spain will Yu day in Luxembourg held of EU agricultural ministers Shang made on Spain "HIV cucumber storm" for "hundred min hundred" compensation. In addition, it was France media reports, only France national vegetable industry losses amounted to EUR 4.8 million.

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has expert said Came as aid coordination of the European debt crisis entered a crucial stage, "HIV cucumber" claims will further widen the eurozone "debtor" and "creditor" rift. On June 6, Spain 10-year government bond yields by up to 5.298%, and over the Germany Treasury 224.5 basis points difference, surged to the highest level since September 2000.

, earlier in the evening of June 2, Germany Angela Merkel had Spain Prime Minister Jose Luis Rodriguez Zapatero by telephone, two people agreed to promote EU help to subjected to impact of epidemic situation of farmers. But this time the call and did not play any substantive role. Spain sales of agricultural products continued the gloomy. According to statistics, under the influence of the epidemic, Spain farmers weekly losses of more than 200 million euros. Therefore, ajilier June 6 on the outside world, said she hoped Germany ad formats to help people all over the world recovery on Spain confidence in agricultural products.

"I totally understand Spain requested Germany compensation for loss of HIV in the cucumber incident, this should be a reasonable amount of compensation claims. "Spain claims, living in Germany Stuttgart resident Sandra · Lan Beidi indicated to the international financial newspaper reporter," while Germany media reports in a timely manner to prevent epidemic outbreaks, but unconfirmed messages also can result in substantial economic loss. So first made false reports of Germany media should also be made to Spain for compensation. "

experts believe that trade disputes within the EU will deepen the contradictions between EU Member States already exists, and further push up the cost of EU integration on the mechanism of coordination, which includes the cost of debt assistance. As a European debt crisis hit "Golden pig five" (PIIGS, namely Portugal, and Italy, and Ireland, and Greece and Spain), one of Spain, had previously been considered are likely to need aid to get through to the debt crisis of the European Union.

Cucumber HIV crack eurozone Spain proposed the hundred compensation

EU internal of trade dispute, will deepened EU the Member States Zhijian already exists of various contradictions, and further push high EU integration mechanism Shang of coordination cost, this which including debt assistance of cost

local time on June 6, Spain agricultural Minister ajilier external open said, Spain will Yu day in Luxembourg held of EU agricultural ministers Shang made on Spain "HIV cucumber storm" for "hundred min hundred" compensation. In addition, it was France media reports, only France national vegetable industry losses amounted to EUR 4.8 million.

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has expert said Came as aid coordination of the European debt crisis entered a crucial stage, "HIV cucumber" claims will further widen the eurozone "debtor" and "creditor" rift. On June 6, Spain 10-year government bond yields by up to 5.298%, and over the Germany Treasury 224.5 basis points difference, surged to the highest level since September 2000.

, earlier in the evening of June 2, Germany Angela Merkel had Spain Prime Minister Jose Luis Rodriguez Zapatero by telephone, two people agreed to promote EU help to subjected to impact of epidemic situation of farmers. But this time the call and did not play any substantive role. Spain sales of agricultural products continued the gloomy. According to statistics, under the influence of the epidemic, Spain farmers weekly losses of more than 200 million euros. Therefore, ajilier June 6 on the outside world, said she hoped Germany ad formats to help people all over the world recovery on Spain confidence in agricultural products.

"I totally understand Spain requested Germany compensation for loss of HIV in the cucumber incident, this should be a reasonable amount of compensation claims. "Spain claims, living in Germany Stuttgart resident Sandra · Lan Beidi indicated to the international financial newspaper reporter," while Germany media reports in a timely manner to prevent epidemic outbreaks, but unconfirmed messages also can result in substantial economic loss. So first made false reports of Germany media should also be made to Spain for compensation. "

experts believe that trade disputes within the EU will deepen the contradictions between EU Member States already exists, and further push up the cost of EU integration on the mechanism of coordination, which includes the cost of debt assistance. As a European debt crisis hit "Golden pig five" (PIIGS, namely Portugal, and Italy, and Ireland, and Greece and Spain), one of Spain, had previously been considered are likely to need aid to get through to the debt crisis of the European Union.

Expert fed QE policy tragic defeat manufacturing depre22ion

United States banking professional analyst Dick Bove pointedly noted that in its research reports, the Federal Reserve (FED) has been " lost all real reason " to force banks to further financing practices may United States economic risk risk of reappearance of the great depression.

the Rochdale securities company (Rochdale Securities) analysts believe that the Fed's quantitative easing is a " fiasco ", because of the move simply pushed up asset prices, but injecting funds very little of the real economy.

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Bove pointed out that The Fed reserves has increased from $ 568 billion jump over to a staggering $ 1.5 trillion, but quietly lying inside the Federal Reserve and money just doing nothing all day. Bank funded by the Federal Reserve purchased $ 600 billion worth of United States Treasury bonds and Bank only this part of the amount can be measured up to meet the new capital requirements. November

2008 year, the Fed has bought $ 1.7 trillion the US debt, low long-term interest rates for the benefit of United States banks. After 3 years, the Fed account has accumulated $ 2 trillion, including the 1 trillion dollar asset-backed bonds. Some even believe that own bad debts on a lot of the Federal Reserve, the Fed probably will have to set up a bad Bank.

he said " these figures imply, second round of the banking system has not been quantitative easing (QE2) invested funds into the real economy. They simply to save money back into the Fed there. New money without creating any noticeable impact, only asset prices pushed up. Extraordinary "

Bove argument is that: first, he also fed assets scheme a few months ago (Troubled Asset Relief Program) appreciated the added, saying it could be " the most successful in the history of Government plans to ". Secondly, his large amounts of poison words are directly aimed at the Federal Reserve officials Tarullo (Daniel Tarullo) recent proposals: Bank capital reserve should be higher than the requirements of the Basel III 20%-more.

he said " unfortunately, I think these people are crazy, just because Bill of duodefulanke (Dodd/Frank Act) was passed. However investors may believe, if it so, bank sector stocks destined by seedlings, is why this silly most of the recommendations into reality. &Quot;

the US Federal Reserve Chairman Ben Bernanke (Ben Bernanke) last month to appear before the Senate Banking Committee on financial stability Oversight Board (Financial Stability Oversight Council, FSOC) hearing said in prepared testimony, is expected to publish a set of related regulations this summer. In accordance with the Bill of 2010 by duodefulanke of the financial regulations will involve strengthening of capital requirements and the Federal Reserve Bank stress tests of the year.

Institutions in unison Yen praises bets will not be renewed intervention

dollars against the yen on Wednesday (June 8) fell to below 80 per cent of one-month low, after Asian stocks fell as a whole, rising risk aversion sentiment crashed, Yen usher in massive repurchase, and the Federal Reserve (FED) Chairman Bernanke overnight comments supporting the United States will temporarily maintain the low expectations of interest rate, the same dollar lower pressure.

JP Morgan Chase Bank traders said Asian stocks pushed lower comprehensive risk aversion, investors extensive buying yen. But Japan, importers and institutional investors United States funds to buy at the bottom 80, provides partial support for dollars.

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has many market persons estimated , Japan authorities may not be pleased to see the yen dipped below 80 mark, however, for the exchange rate of subsequent movements, many bodies still exhibits a high degree of bearish dollar/Yen will.

National City Bank (Citibank), said Osamu Takashima, Chief currency strategist, technology analysis shows that the dollar/Yen fell to 79. Takashima said, calculated based on the model, when a two-year US bond yields 0.4%, dollar/Yen will be dropped to 78 near the front line level, and the current dollar/Yen rate of 0.433%.

, predicting that fluctuations in the dollar/Yen will remain in the 79.70-80.70 range, he tended to in the current quarter before rising dollar, but this view has been shifted to neutral.

Industrial Bank (601,166, unit) pointed out that the dollar/Yen could fall to 78.05, pull up will not occur until after a wave of backlash. In the dollar/Yen is still in a downward trend is expected to soon fell to lows May 79.55, fell below the target point to 78.05, the dollar/yen, after falling to 78.05, will achieve the rebound.

JPMorgan (J.P. Morgan) in Tokyo foreign exchange strategy at Junya Tanase said in the report, or will before the end of dollar/Yen fell to 78, and even briefly dropped below historic lows 76.25 May. Tanase said the movement of the dollar against the yen in the near future mainly depends on the performance of the dollar. If the dollar rebound, then the dollar against the yen down space are limited.

Germany commercial banking technology Lutz Karpowitz, an analyst noted that the dollar/Yen level of possible future fell to 75. Although Japan Administration said tough intervention in foreign exchange market to prevent the dollar/Yen below 80, but so far no action has yet been. This means that the market will test as much as a low point, did not rule out Japan authorities in dollar/Yen fell to 75 only when the possibility of intervention.

for a stronger yen again triggered by rumours of intervention, Japan being only Japan's Finance Minister, came forward to orally expressed concerns about the yen. Japan's Finance Minister, Noda Yoshihiko (Yoshihiko Noda) said he is closely following the appreciation of the yen, at the same time he acknowledged that market to the United States views may lag behind the actual changes in the economy.

, Barclays Bank (Barclays) on Wednesday (June 8) that, despite the continued weakness in the dollar's recent yen and try 80 psychological barrier, but the market does not have to worry about the resulting Japan authorities on the international markets to sell Yen intervention.

chief foreign exchange strategist at the Bank in Tokyo, Masafumi Yamamoto believes that unless the Yen's strength on Japan's stock market and negatively affect economy, otherwise the Japan Government is unlikely to intervene. Yamamoto expected dollar against the yen this week will run in the 79.00-81.00 region.

Japan market research firm Jefferies Japan Ltd. Japan Policy Department Naomi Fink said, Japan official will not further intervene in the currency market, unless there are promoting the speculative buying of the yen.

Fink said the Japan Finance Ministry and Japan's Central Bank (BOJ) will not repeat the March devaluation of Japanese Yen intervention after the earthquake. Their intervention seems be implemented only when the speculation-led market, rather than a specific exchange rate level.

Colombia business school (Columbia Business School) Japan Economic Trade Research Center Director Hugh Patrick also pointed out that Japan will not implement interference, unless there is a new major shocks. 

But Mizuho Financial Group (Mamoru Arai) foreign exchange traders Mamoru Arai believes that if Japan stock market suddenly collapsed, the Group of seven (G7) will increase the possibility of joint intervention,

15:30 ', US dollar/Japanese Yen 79.93/96.

Tuesday, June 7, 2011

Eurozone lied to protect themselves rational

EuroJuncker's move or make it suffer a crisis of confidence. Align=Middle src="http://img.hexun.com/2011-05-11/129481175.jpg">

Euro Group President Juncker discussed last week, the Finance Ministers of the Member States of the Organization Greece problem, indicating this was denied, was found still adhere to the "lying to make sense". Juncker's move or make it suffer a crisis of confidence.

late on Friday, Germany der Spiegel magazine published on the Web site reported that eurozone finance ministers are Luxembourg held a secret emergency meeting to discuss Greece exit the eurozone's problems. Reports came out, gaiyi·shikule, spokesman of the number of media reporters calling Juncker confirmed the message, but Shi Kulei was denied, have not convened such a meeting.

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but actually , Germany, and France, and Greece and other eurozone countries finance ministers did on the same day in Luxembourg held an informal meeting to discuss Greece exit the eurozone's problems, and Juncker also had interviews with the leaders of the journalists.

local time on May 9, when the Wall Street Journal linked to Doppler effects library when asked about the matter, said Shi Kulei, "they let me say that there is no meeting, we have to consider several things. "Shi Kulei said, European night at United States at noon, Wall Street and in the opening period, when the euro are falling because of der Spiegel magazine reported," we have a good reason to deny the meeting was held, this is a self-protection. "

Mr Juncker was in April when the media lied publicly declare their support. He said, "when the topic when it becomes serious, you have to lie". However Mr Juncker is clearly a price to pay for lying. The lie after the event, when asked whether such a deliberately misleading the Act could undermine market when you subsequently declare confidence in the eurozone, said Shi Kulei and without too much worry. He even admitted that market actually have those statements to be credible, "when Mr Juncker or Mr Trichet, ECB, or France's Finance Minister Christine Lagarde, commenting on the market, and no one will believe that."

Germany official EU or requested Greece to expand the scale of a24istance programs provide mortgage

Germany Angela Merkel (Angela Merkel) where the ruling party's budget spokesman Norbert Barthle on Sunday (May 8), the European Union (EU) officials are struggling to prevent the first restructuring of sovereign debt in the eurozone countries, may require Greece to expand assistance loan mortgage.

he pointed out that the expansion of Greece in the last year of the 110 billion euro (about US $ 158 billion) financial assistance scheme may mean Greece provided assets or proceeds of the sale of assets to provide mortgage guarantee for further funding. Request for loan guarantee views at first by Finland suggested that this proposal or to avoid aid scheme on the political opposition.

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he also said , Help ease Greece debt pressures of the other measures include reducing lending rates or extend the maturity of the loan.

Barthle said: " we simply have to, we need to help Greece, no law, we do not want Greece to the edge of the debt to be restructured. &Quot;

this year, Greece has been approved, to extend its assistance loan period, Greece officials say, if further extension, you can avoid the country to seek a wide range of debt restructuring.

in addition, Greece daily news (Kathimerini) reported Greece on Saturday, the Government (May 6) requested an extension of aid schemes on the eurozone finance ministers ' meeting of 2-4, but no sources.

in addition, according to the Wall Street Journal quoted an anonymous government official was reported saying in the eurozone, Greece has requested the other Member States of the eurozone relaxed deficit targets of the country.

United States accusing China of human rights i55ues, economic i55ues the tone gentle

Huitong Network May 10

United States officials Monday (9th) at the start of a two-day dialogue, Stern accused China's crackdown on dissidents who, but said the two countries need to cooperate to promote the growth of the global economy in a more moderate tone.

United States Vice President Biden at the beginning of Sino-US strategic and economic dialogue, said the differences between the two sides in the field of human rights is very large.

he says Obama administration will continue to put that concern to Beijing.

Sino-US strategic and economic dialogue is designed to help the world's two biggest economies to cope with a huge amount of policy differences. Both sides pledged to use the opportunity of dialogue efforts in this direction.

Chinese Vice Premier Wang Qishan in United States Treasury Department issued a statement, said that despite the strength of the global economy is slowly, but the situation remains complex and changeable.

he pointed out that Japan earthquakes, global excess liquidity in the money market turbulence and the Middle East "is a serious blow to market confidence".

Liu Xuefeng from May 9 to May 13 major currency trends analysis


And information special

(and the News Finance Director)

Dollar index:

(and the News Finance Director)

Online from the week, the dollar index rebounded sharply last week, to close at a solid week online longer huge candle, and the 5-week moving average exchange rate on the break and close above the 5-week moving average, indicating strength of the dollar index rebounded stronger, daily chart, although the average system was short order, but the 5 day moving average line break on the 10th, and the exchange rate on the break and close of the 20 day MA above the 20 day moving average, the dollar index also shows a strong rebound in force, the week is expected to rebound in the dollar index is expected to continue upward, we recommend investors to consider buying auction-based, below 74.00 support level first, followed 73.40,72.70, short term, the exchange rate as long as the firm at more than 74.00, the dollar index will rebound is expected to continue upward, above the first resistance is 75.20, followed 75.90,76.50;

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日本央行src="http://img.hexun.com/2011-05-09/129408989.jpg" Bank of Japan meeting: to provide further financial assistance should be considered

Shortly afterwards the euro exchange rate of RMB against the U.S. dollar shocks stabilize stabilize the RMB began to fall shock want more assistance to Greece or family property to be pledged Zhangting Bin: USD's "The Empire Strikes Back," the euro given the opportunity of two structural [registration] to listen to the text National teach you buy the dips opportunity

EURUSD:

(and the News Finance Director)

From Week Online. Significant downturn in Europe last week, week to close at a solid long line of large Yinxian, and the dollar fell below the 5-week moving average and closed the following 5-week moving average, indicating a strong force in Europe and America fell short, the daily chart, the 5 MA 10, MA under the break, and the dollar fell below the 20-day EMA and 20 day moving average closed below the moving average system has emerged signs of turnaround, also shows a strong force in Europe and America fell, Europe is expected this week is expected to continue to fall, recommends that investors can be considered the main selling rallies, above 1.4500 resistance first, followed by 1.4650,1.4720, short-term, as long as the following exchange rate staying at 1.4500, then the outlook in Europe and America are expected to continue to decline, below the 1.4250 support level first, then is 1.4160, below 1.4160, the long term, Europe is expected to further test a low 1.4000-1.4050 range;

(and the News Finance Director)

GBPUSD:

(and the News Finance Director)

Online from the week, fell sharply last week, Anglo-American, to close at a solid week online longer huge candle, the exchange rate fell below the 5 weeks moving average and closed the following 5-week moving average, indicating a strong Anglo-American forces fall short , the daily chart, the 5 day moving average U-turn and fell below the 10-day moving average down, the exchange rate under the break and close of the 20 day MA 20 day MA below, also shows a strong Anglo-American forces fall, is expected this week, Britain is expected to continue to decline, it is recommended Investors can consider selling rallies mainly above the 1.6450 resistance first, followed by 1.6570,1.6620, short term, the exchange rate at 1.6570 as long as the firm the following, then the Anglo-American market outlook will also be expected to continue downward adjustment, under the support level The first is 1.6250, followed by 1.6170, below 1.6170, a new Anglo-American is expected to decline further open space, will not rule out further test a low exchange rate of 1.6100, 1.6000 or even possible;

(and the News Finance Director)

USDJPY:

(and the News Finance Director)

From Week Online, low fluctuated United States and Japan last week, to close at a weekly online video line up and down the spindle long lines, slow downward trend indicates that United States and Japan, short-term is expected to rebound upwards, the daily chart , the 5 day moving average firm in the 10, 20-day moving average below the average system was short order, and suppression of the exchange rate by 5 day moving average close 5-day moving average and below that is still in the US-Japan downward trend, but the exchange rate sharply on Friday rebound, closing at 80.00 U.S. and Japan over the whole, also shows strong support for the following short-term 80.00, this week is expected to stabilize the U.S. and Japan is expected to rebound, aggressive investors might consider buying auction-based, cautious investors might consider waiting to see, below the 80.00 support level first, followed 79.50,79.00, short term, the exchange rate stabilized at 79.50 as long as the above, then the United States in the future city is expected to rebound upwards, above the 81.10 resistance level first, followed 81.70,82.50, medium term, exchange rate is only 82.50 on the break, United States and Japan can be expected to resume strong;

(and the News Finance Director)

USDCHF:

(and the News Finance Director)

From Week Online, the Zhou Meirui rebounded slightly, closing at a week online with a small lower shadow Yang Xian, indicating that the downward trend Murray slowdown is expected short-term bounce upward, the daily chart, the 5 average U-turn upward, breaking the exchange rate on the 5, 10-day moving average and closed above 10 day moving average, also shows the downward trend slowed Murray, short-turnaround signs have emerged this week is expected to Murray is expected to rebound upwards, suggest that investors Buying can be considered the main, below the 0.8680 support level first, followed by 0.8600,0.8550, short term, the exchange rate as long as the firm at more than 0.8680, then the United States and Switzerland are expected to continue upward rebound in the market outlook, above 0.8900 resistance first , followed by 0.9000, the medium term, the exchange rate only on the break 0.9000, Murray is expected to resume long-term trend was strong;

(and the News Finance Director)

USDCAD:

(and the News Finance Director)

From Week Online, Canada rebounded sharply last week, to close at a solid week of online longer huge candle, and swallowed up the exchange rate decline in the previous week, and 10-week moving average on the break, indicating the strength of strong rebound in the U.S. and Canada, mid-term downward trend is expected to bounce off the end; daily chart, the 5-day online through 10, 20 day moving average, moving average exchange rate on the wear 20 and close above the 5-day moving average, also shows a strong power of the North American rebound this week is expected to rebound in the U.S. and Canada is expected to continue upward, we recommend investors to consider buying auction-based, below 0.9570 support level first, followed by 0.9440, short term, the exchange rate stabilized at 0.9570 as long as the above, then the United States and Canada is expected to continue rebound, the top First resistance is 0.9700, short term, the exchange rate is only staying at 0.9700 over United States and Canada can be expected to rebound further open up new space, then the exchange rate is expected to be further up the test 0.9830 or even 0.9950-1.0000 range;

(and the News Finance Director)

AUDUSD:

(and the News Finance Director)

From Week Online, the significant downturn in Australian and U.S. last week, to close at a weekly online and entities under the shadow of large Yinxian longer, indicating the top of the short-term Australian and U.S. pressure, the upward trend has emerged signs of slowing, medium-term downward adjustment is expected, the daily chart, the 5 day moving average under wear 10 day moving average, the exchange rate suppression by 5 day MA 20 day MA and the next break, also shows that the top Australian and U.S. pressure, short-term signs of turnaround have emerged, Australian and U.S. is expected this week is expected to be adjusted downwards, it is recommended investors sell into rallies can be considered the main, above 1.0800 resistance first, followed by 1.0920,1.1000, short term, the exchange rate at 1.0800 as long as the firm the following, then Australia and the United market outlook is expected to fall further below the 1.0580 support level first, followed by 1.0450,1.0400, medium term, if the exchange rate fell below 1.0400, then the Australian and U.S. will further open the space for the new fall, when the exchange rate is expected to further test a low 1.0200. < / P> (and the News Finance Director)

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Frank Gong the Renminbi against the dollar up 1 time times 10 years

securities times reporters Wei Shuguang

Frank Gong, Managing Director of JP Morgan in China held in Beijing recently "the seventh session of the Board of Directors of listed company Golden round table forum" optimistic when expected, appreciation of the Renminbi against the dollar at least 1 time times 10 years, while the Chinese economy is possible in less than 10 years more than United States as the world's largest economy. At present, China's economic aggregate of US $ 5.8 trillion, United States is $ 14 trillion.

Frank Gong hypothesis: If China annual gross domestic product (GDP) has 8% growth, after 9 years in 2020, the scale of China's economy to reach $ 12 trillion; United States is now a $ 14 trillion, assuming that 3% per cent a year, after 9 years is US $ 18 trillion, China's economy is stronger than the total United States little. However, there is another very real assumption is the next 9-10 years the RMB appreciation against the dollar could at least 1 time, so that China's economic aggregate over United States.

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Frank Gong stressed Renminbi appreciation depends on whether China can break through the bottleneck, that is in the process of development in the next 10 years, China will have more independent brand of intellectual property, technology, resources, and so on. If you can break through the bottleneck, is guaranteed for the sustainable development of China's economy, appreciation of the Chinese economy can withstand more than 1 time pressures, China doubled the total economic, catch up with the United States.

said Frank Gong, China should be the real concern is the middle-income trap. Some traditional industries in foreign countries on China is also an emerging industry, such as financial services, medical services, health care industry, these industries would take off in the future, and will be a lot of the brand enterprises and with the rising proportion of industry in the economy as a whole and at times. These are the flags of China's economic transformation in the future. The transformation can succeed, can mainly created, has its own core brand or create and has its own core technology, this is the Chinese entrepreneur faces enormous challenges in the next 10 years.

for the recent poor performance of domestic a-shares market, said Frank Gong, which is a problem in China's capital market at an early stage of development. "In the past 10 years, China's economic aggregate has 5 times, while the a-share index rose only 30%, but real estate prices in China rose 5 to 8 times, this is also the performance of capital markets investors flocked to the real estate market reasons. "

" stock supply, more and more liquidity, more and more lifted stocks will more and more, stock prices will come down. "Frank Gong said, overall, China social savings rate is too high. And when the national social security system after the sound system, medical services, holdings of cash in national wealth will come down, there will be more and more money flowing into the stock market, is bound to stocks to rise.