Posts by "qiman"

Does anyone here have experience trading the Polish Zloty? With Poland being the one European economy to avoid recession last year, and now a top twenty economy in the world, seems like there might be some opportunities. The Zloty gained against the Euro due to the election results:

"Given the clarity on the political front, we expect the government's presentation on the budgetary economic guidelines, which were supposed to take place by June 30, to take place later this week," the UniCredit analysts said.

In the currency markets, the euro dropped 0.6% to 4.1155 Polish zloty. The dollar fell 0.4% to 3.2810 zloty.

As I've mentioned before I pay attention to what GS says, because their pronouncements can move markets short term:

Goldman Sachs warns on global economic slowdown
Fresh fears over a global economic slowdown were raised on Saturday after Goldman Sachs' chief economist warned that data from China and the US revealed that any recovery was facing a "challenging period" and that evidence from America was "troubling".
http://www.telegraph.co.uk/finance/economics/7870324/Goldman-Sachs-warns-on-global-economic-slowdown.html

"Blaming foreign speculators for the continents troubles may be a popular sport in Paris and Berlin, but most of those problems are entirely homegrown. Europes dirty secret is that its banking sector is sicker than Wall Street. European banks losses from the last financial crisis will hit $1.3 trillion by the end of this year, according to the International Monetary Funds latest forecast35 percent more than the U.S. total. And while Europes banks were just as aggressive as Americas in gambling on toxic debt, most European governments have done less than America to clean up the mess. Now, European lenders are increasingly nervous about the money theyve plowed into overindebted countries like Greece. Together, Europes banks have funneled $2.5 trillion into the five shakiest euro-zone economies: Greece, Ireland, Belgium, Portugal, and Spain."
http://www.newsweek.com/2010/07/02/worse-than-wall-street.html

yes, based on the games played so far Germany and Holland should be the favorites to advance. Early on it looked like the Latin countries would dominate, but many of them didnt play with typical "Latin flair," while Germany has played like that at times.

In still another sign of bearish sentiment, money managers cut net long crude oil positions on the New York Mercantile Exchange in the week through Tuesday, the Commodity Futures Trading Commission said on Friday
http://www.reuters.com/article/idUSTRE65D3YT20100702