Sunday, May 11, 2008

Forecast on the Peso, Gold and Oil

Again, in my January 1, 2008 post I said:

I do not see the Peso going to 35. I even see it hover around 40"s for the whole year. I also see it weakening to 43 to 45 briefly to scare away short speculators. I saw it happen with the US dollar years back, with the Euro, Yen and others. Be careful.


The Bangko Sentral ng Pilipinas has revised its assumption on the peso-dollar exchange rate for this year and the next to a range of 42 to 45 to $1 given the more volatile external market conditions caused by the global downturn.


This is a signal for a long dollar, and TP once it reach a "certain" price of 43.5 to the dollar, and wait...until it is time to short again because I do not believe the dollar staying and going beyond 45, nor for it to stay below 40. So? Trade the volatility on both sides, hehehe.


For both Gold and Oil, IMO, its current prices are mostly I am staying away.

Ito muna.