Tag Archives: Lucas Papademos

Our Two Cents – Week of 4/9/12

Spring has teed off as golfer Bubba Watson won his first green jacket at the 2012 Masters Tournament and the Easter Bunny delivered chocolates this past weekend. While we enjoyed some time with family and friends, we kept up with the latest news in the currency markets.

In the U.S., jobless claims in March tallied 357,000 as the unemployment rate dipped to 8.2 percent from 8.3 percent. While last month’s figures were less than anticipated, they still illustrated optimism of a rebounding economy. Economists said the U.S. economy, which is in its third year of expansion, is better equipped to overcome a slowdown in Europe and inflating fuel costs. Also, the private sector in March added 209,000 jobs, which aligned with expectations.

In the eurozone, Greece saw good news for its economy as the country’s prime minister said the nation could see a 2.5-to-3-percent growth during the next two years. Lucas Papademos said current forecasts show that Greece’s gross domestic product will start rebounding from five straight years of recession in the second half of 2013. The country also extended its deadline to April 20 for its final bond swap.

In Ireland, the Irish Central Bank showed signs of economic stability. Officials said the bank remains on track to meet its budget bailout targets and unlikely won’t need to bring in more spending cuts and tax increases in 2012.

Following their second-worst year in history, hedge funds posted a positive first quarter as the Dow Jones Credit Suisse Core Hedge Fund Index ended Q1 up 2.75 percent.

 

-------

Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results. Investor returns may vary from Trade Leader returns based on slippage, fees, broker spreads, volatility or other market conditions.

Our Two Cents – Week of 3/19/12

There’s nothing better than warm spring weather in Boston. It’s even better when the financial markets are performing just as upbeat as South Boston’s St. Patrick’s Day Parade.

In the U.S., fiscal optimism resounded as economic confidence hit a four-year high, according to a recent Gallup poll. The good news stemmed mostly from last week’s U.S. jobless claims, which adjusted to about 351,000. Other indexes—and commentary—illustrated the nation’s strengthening economy. The Thomson Reuters/University of Michigan’s Consumer Sentiment Index for February and the latest Consumer Confidence Index from the Conference Board both posted their highest readings in a year. U.S. Treasury secretary Timothy Geithner said the country’s economy continues to show signs of expansion.

In the eurozone, its current-account surplus surged in January to its highest level in almost five years. Greece’s Prime Minister Lucas Papademos said the country was more than halfway on the road to economy recovery, optimistic about achieving positive growth rates within less than two years. Officials also formally stamped Greece’s second bailout, hoping the 130-billion-euro package will provide the country with enough aid until 2014-15.

For hedge funds, investments saw healthy inflows as they advanced 2.10 percent in March, according to GlobeOp Financial Services. As inflows increased, the number of hedge funds last year swelled to the highest level since 2007. The number of new hedge funds totaled 1,113 in 2011, according to fund tracker Hedge Fund Research. Also, the RBC Hedge 250 Index returned 1.25 percent for the month of February, bringing its year-to-date return to 2.96 percent.

 

 

-------

Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results. Investor returns may vary from Trade Leader returns based on slippage, fees, broker spreads, volatility or other market conditions.

Our Two Cents – Week of 2/21/12

While many Americans enjoyed a restful holiday weekend, financial officials in Greece busily discussed and ultimately approved the nation’s new rescue plan.

Eurozone finance leaders agreed to the $172.1 billion rescue deal for Greece—a plan that would have the country’s private creditors take larger losses than previously agreed. The package could help Greece reduce its government debt from about 160 percent to about 120 percent by 2020. Greek Prime Minister Lucas Papademos called the agreement “historic,” giving his country a new economic lifeline.

Here in the U.S., economic confidence resounded. According to a new Pew Research Center poll, almost half of all Americans expect the economy to be better by 2013. Also, according to a new CBS News/New York Times poll, as many as 34 percent of Americans say the economy is getting better—up from 28 percent who thought so a month ago. One of the factors for an improved economy is jobs. Jobless claims fell to a new low, now at 348,000, and retail sales grew by 0.4 percent. In the institutional arena, hedge funds, commodity trading advisors and private equity funds are expected to increase allocations in 2012, according to an AlphaMetrix survey.

While we were reading the world’s biggest financial headlines, Currensee itself received some ink. FINalternatives profiled the Trade Leaders Investment Program, speaking with our CEO Dave Lemont. The publication said Currensee is aiming to “revolutionize money-under-management CTA world.”

 

 

-------

Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results. Investor returns may vary from Trade Leader returns based on slippage, fees, broker spreads, volatility or other market conditions.

Mamma mia! What a week it’s been in the currency markets. Let’s get right to it.

Italy dominated much of the ink last week as its prime minister announced his resignation because of the country’s debt crisis. Prime Minister Silvio Berlusconi stepped down Nov. 12 after Italy’s government passed crucial economic reforms demanded by the European Union. He was replaced by economist Mario Monti, who’s serving as premier-designate. Aside from Berlusconi facing scrutiny for scandals and failures during his service, Italy is in fiscal turmoil because the country’s debt is larger than the combined economies of Portugal, Ireland and Greece. Not to mention its bonds are shattering the 7-percent level, worrying financial officials as the world’s eighth largest economy could potentially spawn an unmanageable economic situation. There was some good news for Italy Nov. 14 when it sold some short-dated bonds via a sale that had been viewed as “a key test of demand for Italian debt.”

In Greece, the country named former European Central Bank Vice President Lucas Papademos as its next prime minister, hoping his experiences can help right Greece’s economic ship. Despite the turnover of Italy and Greece, nearly 80 percent of Germans believe both the euro will survive and Chancellor Angela Merkel is handling the economic crisis well.

In the U.S., hedge fund experts are already betting that 2012 will see more investors and shopping around for investments. According to the 2012 Preqin Hedge Fund Investor Review, 10 percent of investors plan to invest only with new managers in the new year while nearly 50 percent intend to seek new relationships. Unfortunately for U.S. retail foreign exchange traders, some new rules and strict enforcements are causing some trading restrictions. According to a LeapRate report, currency traders have shrunken to their lowest levels in years because new regulations and legislation such as the Dodd-Frank act that have limited trading and the amount of leverage brokerages can offer individuals. On the jobs front, September saw the most job openings in three years as employers advertised more positions during the month. Many experts are hoping that’s a sign companies may increase hiring. The U.S. Labor Department said businesses and governments posted 3.35 million job openings—a 7-percent increase from August and the most since August 2008. Some more optimism for U.S. jobs last week included the number of jobless claims dropping to 390,000—well below the 400,000 mark that analysts expected. Additionally, the U.S. trade balance deficit reported below expectations, hitting 43.1 billion—also well below the expected 46.1 billion. To finish positively, and celebrating the recent New York City marathon, successful long-term investors are being compared marathoners because “they must be well prepared, resilient, disciplined and focused” to go the distance.

 

 

-------

Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results. Investor returns may vary from Trade Leader returns based on slippage, fees, broker spreads, volatility or other market conditions.