IntelligentHQ Forex Week In Review In Association with OANDA Corporation
by Alfonso Esparza
Last week Spanish Finance Minister de Guindos stated that Spain doesn’t need a bailout. That statement was met with laughter, but to his credit Spain has not asked for a bailout, this week. During the IMF – World Bank forum in Tokyo this week de Guindos made sure to dispel the rumors in the market about any political pressure on Spain not to ask for the bailout.
EUROPE Week in FX
Week in FX Americas VP Debate Heats up Election
The US stock market closed at a loss as earnings season continues. The market’s attention has been focused on two topics: The US election and the European Crisis. Not getting as much airtime as last time is the budget deficit. The budget deficit this year is the fourth largest since WWII clocking in at USD 1.09 trillion, but an improvement over 2011 where it was USD 1.3 trillion. The fiscal cliff for this year is $1.2 trillion in spending cuts
AMERICAS Week in FX
Week in FX Asia Chinese Household Confidence Falls
A survey by Bank of Communications Ltd, one of the major state-owned banks in China, revealed that Chinese households expect the next six months to show a reduction on their income. Questions around employment prospects and unemployment rate were responded negatively by more than half of the participants. Willingness to invest in China has declined as the effects of an economic slowdown start to trickle down.
ASIA Week in FX
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Dean Popplewell has a wealth of forex experience: professional currency trader for 10 years, fixed income trader for four years, and head of the global trading desks at various financial institutions in Canada. Dean is OANDA’s resident currency analyst and has been writing OANDA’s daily forex blog since January 2007 as a way to share some of his forex experience with the OANDA community.