Jumat, 16 April 2010

Berita dari Yunani

Greece still faces the danger of a “death spiral” because the cost of borrowing in the euro region’s rescue package is too expensive, billionaire investor George Soros said.

“While it’s better than what the market is currently willing to offer, it’s still rather high,” Soros said at an event in London late yesterday organized by the Economist magazine. “It is a question of solvency. If you start charging very high rates as the market does in anticipation of solvency then that pushes you into insolvency.”

Euro region finance ministers on April 11 offered Greece a 30 billion-euro ($41 billion) aid package which would give it three-year loans at 5 percent if it can’t raise money in capital markets. Greece auctioned Treasury bills yesterday for the first time since the rescue bid, drawing more demand than at a previous sale.

“Concessional rates” of borrowing aid would help Greece “fulfill their target,” Soros said. “If they don’t, they have then to tighten even further, then your tax receipts go down and the economy goes further into tanking and then you go into a death spiral. That is the danger that is still remaining.”

Greek bonds fell for a second day today, pushing the yield on the country’s 2-year debt up 57 basis points to 6.9 percent as of 3:28 p.m. London time.

The extra yield investors demand to hold the country’s 2- year notes instead of German notes of equivalent maturity, rose 55 basis points to 568 basis points, according to generic Bloomberg prices.

“The argument for political will to bail out Greece” was that “the consequences of Greece leaving the euro would be the disintegration of the euro,” Soros said. “The disintegration of the euro would take a very long way toward the disintegration of the European Union.

Soros Fund Management LLC manages about $25 billion. Soros said yesterday that “I’m no longer running the fund.”

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Greece still faces the danger of a “death spiral” because the cost of borrowing in the euro region’s rescue package is too expensive, billionaire investor George Soros said.

“While it’s better than what the market is currently willing to offer, it’s still rather high,” Soros said at an event in London late yesterday organized by the Economist magazine. “It is a question of solvency. If you start charging very high rates as the market does in anticipation of solvency then that pushes you into insolvency.”

Euro region finance ministers on April 11 offered Greece a 30 billion-euro ($41 billion) aid package which would give it three-year loans at 5 percent if it can’t raise money in capital markets. Greece auctioned Treasury bills yesterday for the first time since the rescue bid, drawing more demand than at a previous sale.

“Concessional rates” of borrowing aid would help Greece “fulfill their target,” Soros said. “If they don’t, they have then to tighten even further, then your tax receipts go down and the economy goes further into tanking and then you go into a death spiral. That is the danger that is still remaining.”

Greek bonds fell for a second day today, pushing the yield on the country’s 2-year debt up 57 basis points to 6.9 percent as of 3:28 p.m. London time.

The extra yield investors demand to hold the country’s 2- year notes instead of German notes of equivalent maturity, rose 55 basis points to 568 basis points, according to generic Bloomberg prices.

“The argument for political will to bail out Greece” was that “the consequences of Greece leaving the euro would be the disintegration of the euro,” Soros said. “The disintegration of the euro would take a very long way toward the disintegration of the European Union.

Soros Fund Management LLC manages about $25 billion. Soros said yesterday that “I’m no longer running the fund.”

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The euro will drop by the middle of next year to $1.19, a level last seen in March 2006, as government debt forces the European Central Bank to keep benchmark rates at record lows, according to BNP Paribas SA.

The 16-nation currency has fallen 4.6 percent versus the dollar this year on concern Greece will be unable to finance a budget deficit that is more than four times the European Union’s limit of 3 percent of gross domestic product. The median forecast of analysts in a Bloomberg survey is for the euro to trade at $1.33 in 2011.

“A program of severe fiscal consolidation is required, which will result in significant deflationary pressure,” currency strategists at BNP Paribas wrote in a note to clients today. “The ECB is still a long way from hiking interest rates, with a rise in the refinancing rate from the current 1 percent unlikely until the second half of 2011.”

The common currency rose to a three-week high of $1.3692 on April 12 after European governments offered Greece over the weekend a rescue package worth as much as 45 billion euros ($61 billion).

Germany’s parliament will probably be given a vote on any financial aid for Greece, the Finance Ministry said today, risking a showdown with lawmakers. Greek Prime Minister George Papandreou may be forced to activate the emergency-aid package within two weeks, Fitch Ratings Director Christopher Pryce said.

“We expect any euro recovery to remain limited,” the BNP analysts wrote. “Many uncertainties regarding the aid package for Greece remain, which is likely to keep international investors cautious about committing funds to European asset markets.”

The ECB will raise its benchmark interest rate by a quarter-percentage point to 1.25 percent during the first quarter of 2011, according to the weighted average of economists in a Bloomberg survey. The Federal Reserve will boost its target by the same amount in the third quarter of 2010, according to the weighted average in a separate Bloomberg survey.

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However...it is definitely NOT easy for anyone to become
a successful and profitable trader.

...That's a fact!

To become a profitable trader....besides needing to know
the basics of forex trading..

At the same time... You also need to know the things that
You must NOT do when trading.

In this email, I will share with You some major mistakes
that traders ( especially newbies ) make..

( And hope You would avoid them at all costs ! )


1) Lack Of A Proven Strategy

Most of the traders DO NOT trade using any strategy. This
simply means they are entering positions based on " feelings"
and " wild guesses"..


2) Aiming For " Unrealistic " Profits Target

Aiming for HUGE profits sound good for most. But being
" Unrealistic" about the profits could result in a winning
trade turning into a losing one ! ...ouch...

( Make sure You know the daily pips range of the currency
pair You're dealing with ....)


3) Fear Of Loss

Traders experience FEAR at the time of trading. Especially
when REAL money is involved!

Because of FEAR traders get confused and when this happens
they misses out on the good opportunities.


4) Trying To Predict The Direction ( Trend )

When it comes to any trading, only the market decides the
direction and that's an important truth.

If any traders were to say this : " I think it is cheap
now ...it CAN"T go lower any further...I shall Buy now.."

Then he/she is not putting the odds on their side and
may end up losing a lot of money in the end with this
mentality.

The best way is wait for the trend to start and then
buy on pull-back would be much wiser.


5) Selling Winners

Traders whom are always in a hurry to sell their winning
trades ( instead of letting the profits run ) are still
affected by their emotions.

Never allow emotions to affect Your trading and whenever
there's a strong trend, just let the profits run and
progressively " Lock in " the profits at different stages.


6) Being Complacent After A Few Winning Trades

Some times traders start to trade ( too often ) after
winning a few trades.

This sorta gives them the feeling that they are " SO ACCURATE"
in their tradings and WON"T BE WRONG.

So they start to trade even more often and resulted in
over-trading and trading with even BIGGER lots hoping to
get more profits FASTER!

Normally this kind of situation would only backfire and
make them lose money big time and even burst the entire
trading account in just a matter of days.

End of the day.....using good money management is still
the way to go and NEVER be complacent in Your tradings!

At this point of time, if You're still struggling to
make " consistent" profits every month because You're
relying on the so called Textbook Technical Indicators
which are always lagging and not accurate...

Then perhaps You should also check out these 3 Price
Action Forex Systems that are simple yet powerful to
use :

( In fact...many of my fellow readers have tried it and
they are already benefiting greatly from them too ..)

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