Tuesday, June 02, 2009

Forex, Ramos, Estrada

The coming months are both going to be exciting and confusing.

1. Ramos is meeting with Estrada.

2. Villar is being hit hard, while Lacson is also being cornered - both by Palace operatives. It seems the Palace are afraid of these two Presidentiables - which is an indicator that voters should not and never vote for Escudero, or Roxas, or De Castro.

Who is you choice then? Lacson or Villar?

I shall wait what Ramos is up to. I trust the old man.

The Liberal Party - the preferred one - is confused. The people do not know if they are an opposition party or administration or what? This party needs a fight - seriously - to be noticed or considered by the Filipino people. Jamby is getting a lot more attention than the whole LP party and it members combined.


On the economic front. Things are bit by bit going normal.

1. GM bankruptcy did not create as much fear as was expected.

2. Traders are no longer running to the dollar:

Michael Woolfolk, senior currency strategist at Bank of New York Mellon, said worries about the long-term strength of the dollar were overblown.

“The dollar remains the sole reserve currency of first choice,” he said. “There’s no currency remotely approaching it. It’s only during periods of relative calm and risk appetite that other currencies begin to look attractive.”
United States dollar index, which measures the greenback against other heavily traded currencies, fell to 78.66. One euro was worth $1.43 — its strongest position against the dollar since December. The dollar fell to $1.66 to the British pound, and lost ground to the Canadian dollar and Japanese yen. Investors who flocked to the safety of the dollar at the height of the financial crisis are beginning to shun the currency.


As I expected the world economy would be in path to recovery earlier than anticipated, which means that, by fourth quarter - all will be back to normal - almost.