Hi everyone

One of the pages with a higher number of direct entrances to our website FXstreet.com due its excellent search engine positioning is the World Interest Rates Table.

http://www.fxstreet.com/fundamental/interest-rates-table/

Main Highlights:

• Order the data shown in the tables however you want
• Special set of charts that best reflect interest rates changes
• Upcoming meetings of the banks

To stay tunned about World Interest Rates, this is the place to go

Enjoy it!

Francesc

Nassim Taleb on the economy ‘We still have the same disease’
The Globe and Mail
On the anniversary of the spectacular collapse of Lehman Brothers, Nassim Nicholas Taleb is one of those people who can say, “I told you so.” For the past decade, he’s been warning that the global economy has become far more vulnerable to unpredictable events that can cause vast disruption. He famously foresaw the credit crunch that brought the financial system to its knees.
Mr. Taleb is a Wall Street derivatives trader who became an academic specializing in the study of randomness and probability. In May of 2008 he published The Black Swan: The Impact of the Highly Improbable. It argued that most economists and bankers live in a dangerous fantasy world in which they imagine they can control the future. The book takes its name from the fact that all swans were once believed to be white – until black swans turned up in Australia.
Full Story

Related News
Stiglitz Says Banking Problems Are Now Bigger Than Pre-Lehman by Bloomgerg
Risk of deflationary collapse greater now than in 2007, Janet Tavakoli

China alarmed by US money printing by The Telegraph
The US Federal Reserve’s policy of printing money to buy Treasury debt threatens to set off a serious decline of the dollar and compel China to redesign its foreign reserve policy, according to a top member of the Communist hierarchy.
Cheng Siwei, former vice-chairman of the Standing Committee and now head of China’s green energy drive, said Beijing was dismayed by the Fed’s recourse to “credit easing”.
“We hope there will be a change in monetary policy as soon as they have positive growth again,” he said at the Ambrosetti Workshop, a policy gathering on Lake Como.
“If they keep printing money to buy bonds it will lead to inflation, and after a year or two the dollar will fall hard. Most of our foreign reserves are in US bonds and this is very difficult to change, so we will diversify incremental reserves into euros, yen, and other currencies,” he said.
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Arguments for ECB to hike in 2010 by Danske Bank
* The focus of the ECB now appears to be shifting from whether to implement more stimulus measures to when to begin withdrawing them.
* We believe that the euro area next summer will have recovered so much that the ECB will consider interest rates at historical lows as being inappropriate and will start hiking.
* When the ECB starts hiking it will probably deliver about 0.5 percentage points each quarter, which was the average hiking speed seen in the 2000-01 hiking cycle.
* The exit strategy is likely to begin with alterations of the conditions for the long-term refinancing operations.
Full Story

I hope PIMCO is wrong this time…

You know that we at FXstreet.com are mainly paid in USD so I’m a USD supporter… Go USD go!

Pimco Says Dollar to Weaken as Reserve Status Erodes by Bloomberg

Update
I hope Mr. Buffett is wrong too…. It seems to me too many people has to be wrong in order me to be happy

Warren Buffett warns budget deficit may harm dollar by The Telegraph

Interesting read for those of you skeptical of recent stocks rise….

Francesc

Is This the Start of the Big One?
by Naked Capitalism
I don’t believe in market calls, and trying to time turns is a perilous game. But most savvy people I know have been skeptical of this rally, beyond the initial strong bounce off the bottom. It has not had the characteristics of a bull market. Volumes have been underwhelming, no new leadership group has emerged, and as greybeards like to point out, comparatively short, large amplitude rallies are a bear market speciality.

In addition, this one has had some troubling features. Most notable has been the almost insistent media cheerleading, particularly from atypical venues for that sort of thing, like Bloomberg. Investors who are not at all the conspiracy-minded sort wonder if there has been an official hand in the “almost nary a bad word will be said” news posture. Tyler Durden has regularly claimed that major trading desks have been actively squeezing shorts. There have been far too many days with suspicious end of session rallies.
Full Story

Interesting article:

RBS uber-bear issues fresh alert on global stock markets
By The Telegraph
Three-month slide could hit record lows, Royal Bank of Scotland chief credit strategist Bob Janjuah predicts.

Britain’s Uber-bear is growling again. After predicting a torrid “relief rally” over the early summer, Bob Janjuah at Royal Bank of Scotland is advising clients to take profits in global equity and commodity markets and prepare for another storm as winter nears.
“We are now in the middle of a parabolic spike up,” he said in his latest confidential note to clients.
“I expect this risk rally to continue into – and maybe through – a large part of August. What happens after that? The next ugly leg of the bear market begins as we get into the July through September ‘tipping zone’, driven by the failure of the data to validate the V (shaped recovery) that is now fully priced into markets.”
Full Story

• After a small break in June, Global PMI had another strong increase in July. The global new orders index rose from 49.1 to 53.3, which is above the long-term average of 52.6. OECD’s leading indicators also rose strongly to even higher levels, pointing to very strong growth and a further rise in PMI during Q3 and Q4.
• The order-inventory balance from PMI data also rose a bit further, painting a similar picture of very strong global growth in H2 09.
• In the US most leading indicators continued higher. The ISM new orders index made another move higher from 49.2 to 55.3 and the order-inventory balance rose further. The ISM model points to a further rise above 55 by year-end.
• In Euroland OECD’s leading indicator, the PMI order-inventory balance, and ZEW all point to a significant rebound in H2 growth. In Scandi a sharp further rise in Swedish PMI stands out. Other countries and surveys also point to improvement, albeit at a slower pace.
• Asia continues to look strong. In particular, the sharp rebound in industrial production in Japan, Taiwan and South Korea is striking. CEE shows further a rise in PMI. Russian PMI increased strongly again in July.
• Outlook: We look for further improvement in PMI data in the coming months whereas some of the leading indicators that have risen the most are likely to level off soon from the very high levels. Global GDP growth looks set for a strong H2 recovery.
  Full Story

* The last thing the euro zone needs is an appreciating currency. As a result of the reversal of the safe-haven effect on the greenback begun a few months back, the euro remains over-valued in trade-weighted terms.

* In addition to Ireland having its credit rating downgraded recently by Standard & Poor’s, the ECB’s firepower is petering out again: Money-supply growth in Europe has just reached a 12-year low.

* Given that the U.S. leading economic indicator is back in positive territory for the first time in 22 months and some forecasters expect real GDP to begin growing again in the third quarter, the chances of seeing a repeat of the 2004 scenario are good. Accordingly, the dollar should begin to realign with the euro when the Fed starts hiking rates again.

* May’s bionic loonie has finally dipped a couple of notches to more reasonable levels. The recent cooldown in commodity prices should keep the Canadian dollar in check over the coming months. On the assumption that oil prices will hover around US$60 a barrel, the loonie should hold closer to $0.85 than to $0.90 in the months ahead.

* Canadian exporters can therefore heave a sigh of relief and should seize the opportunity to do some currency hedging for their international transactions before the eventual global recovery sets the loonie on a sustainable uptrend.

Hi everyone

We at FXstreet.com are following the currency forecasts the big banks issue on a monthly/quarterly basis in order to give our visitors a gauge of what we can expect from the majors and most importantly crosses future performance.

We follow forecasts from Danske Bank, Wachovia, BBH, NY Melon Bank, BNP Paribas, BMO Capital Markets, Calyon, CIBC, Deloitte, RBC and TD Economics.

Currencies Forecast by FXstreet.com

Economic Events Forecast by FXstreet.com

Francesc