Chris Weston from IG Markets talks in this Double Shot interview about what's happening on global currency markets.
He talks about the prospect for a second round of Quantitative Easing by the US Federal Reserve.
He says markets may 'buy the rumour and sell the fact' of such money printing, triggering a bounce in the US dollar once it happens.
He also talks about the rise in gold and how many investors are looking at metal stocks on the ASX as a proxy for such a rise.
Weston talks about the prospects for the Australian dollar, the US dollar and the Euro.
Chris Weston spoke at a seminar on global foreign exchange markets at the Langham on Saturday.
9 Comments
Two weeks ago Washington Post economic commentator invoked Smoot-Hawley Act as he called for trade war against China .
Act, passed by the US Congress in June 1930 to impose a series of tariff barriers, was regarded as one of the principal causes of the downward spiral in world trade from 1929 to 1932 and the division of the world , leading eventually to world war.
I dont believe for an instant China does not realise it could control the world currency market...these guys are just as intelligent as anyone in the west but think long term, and with depth and skilled opaqueness and will take losses short term (and remember who they lost to and get even) in order to win the end play.....
This is the end play....on top of that they have their backs to a wall, its chinese un-employment and in-stability resulting....they have no social security net and control is marginal in many areas. Are "the west" that stupid to think they will willingly drop into anarchy because the west "insists", no, worst case they will take us with them...best case they will survive in a better state...
I mean asia is going to pass the USA and EU as THE world market....(2015?) who need who?
regards
Here you go Steven.....it wont....that's it....I don't think they( China) are stupid ..or .backward.or any other China phobic term you can find......it isn't just America Steven the rest of the world does not want China to control the world currency market either..... .end of story.
I mean as long as your proverbial points to the ground....America is our ally not China and where America goes Australia will follow with good reason or not....
I have noted in many threads Steven (that I have enjoyed and appreciated) there is always a negative attached to the combo word "The West"......any reason for that you can put your finger on..?
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