Ontvang nu dagelijks onze kooptips!

word abonnee
IEX 25 jaar desktop iconMarkt Monitor

Koffiekamer« Terug naar discussie overzicht

USDollar

74 Posts
Pagina: 1 2 3 4 »» | Laatste | Omlaag ↓
  1. [verwijderd] 23 maart 2005 08:18
    Ik durf het bijna niet te zeggen, maar Mahendra heeft deze richting van de USD goed gezien. Over Olie heeft ie ook een dergelijk commentaar gegeven en warempel daar beginnen zich ook al dergelijke tekenen te vertonen.
    On the bright side, hij ziet de beurzen Crashen pfff gelukkig want ik zit short :)

    S.
  2. Floralys 23 maart 2005 08:51
    Ho! Ho!
    Mahendra roept al maanden dat de dollar gaat stijgen, hij riep dat ook toen de verhouding met de euro op 1.27 stond.
    Voor olie hetzelfde liedje: Mahendra kondigde reeds een daling aan op €45.
    Dat de prijsbewegingen van dollar (gedaald naar 1.35 t.o.v. de euro) en olie (nieuwe records!) nu eindelijk een stukje zijn kant opkomen is niet meer dan logisch, maar toont natuurlijk niet zijn gelijk aan. Integendeel.

    Richting en timing, daar gaat het om bij een voorspelling.
    Mahendra zat er met beide flink naast: richting fout en timing beroerd.
    Zowel de dollar- als de olievoorspelling klopte voor geen (centi)meter.
  3. [verwijderd] 23 maart 2005 15:06
    quote:

    TurboBoy schreef:

    Ik ben ingestapt op deze EUR/USD Turbo Long: 45951. Bid 3,63 - 3,71. Wordt alleen wel uitgestopt op 1,28 oppassen dus!! Klein herstel moet erin zitten..

    Puur TA gezien is die 1,28 of iets daaronder een laatste steun (onderkant stijgende trend) mijns inziens... Daarom lijkt me die net iets TE risky... En hefboom van 28 das ook heavy. De eerder door mij genoemde heeft SL 1,261 en hefboom 20 toch iets safer...
  4. [verwijderd] 24 maart 2005 14:27
    Voor de dollar bulls:

    Why We Will Dodge a Dollar Disaster

    By Jim Jubak
    MSN Money Markets Editor
    3/23/2005 7:14 AM EST

    First the bad news: The U.S. trade deficit hit a record $666 billion in 2004, and the euro is up 47% against the dollar since May 2002. The dollar's decline means slower economic growth, higher interest rates, a stagnant stock market and a slippage in the U.S. standard of living. All of which is enough to make me a pessimist.

    Now the good news: The dollar isn't going to crash, and those market pundits urging you to short everything except gold and silver are wrong.

    I don't buy the extreme scenarios because they underestimate the feedback mechanisms in capitalist economies that kick in when a trend swings too far in one direction or the other. In the current case, these mechanisms will help limit the damage to the dollar -- and to the U.S. and global economies.

    Better Off Than Europe and Japan?

    And what are these mysterious mechanisms? Nothing more complicated than this: You think we've got problems now -- just wait until the global financial markets latch onto the even bigger mess that the Europeans and the Japanese face. Sure, you may not want to own U.S. dollars because of trade and budget deficits, our aging population and the huge financial obligations they impose, not to mention our inability to agree on meaningful fixes for anything. But, hey, do you really want to own a lot more euros and yen when everything is so much worse in those economies?
    Let's do a comparison of the dollar and its main global competitors, the euro and the yen, on the crucial points.

    Government budget deficits. Ours is huge: $412 billion in fiscal 2004. That came to 4.4% of gross domestic product, one measure of the size of the U.S. economy. In France, the budget deficit in 2004 was 3.7% of GDP and in Germany, 3.9%, according to the Organization for Economic Cooperation and Development (OECD). Better but not hugely better.
    If you prefer euros to dollars, though, what's important to you is the projected trend in future deficits. According to the OECD, the budget deficit will drop to 2.9% of GDP in France in 2006 and to 2.2% in Germany. But it will stay almost steady at 4.2% in the U.S. Score a point for the euro -- but definitely score one or more against the yen. Japan ran a government budget deficit of 6.5% of GDP in 2004, and the OECD is projecting the deficit will drop just a smidge to 6.3% in 2006.

    Economic growth

    We all feel that the budget deficit is out of control in the U.S., so why doesn't the comparison with Europe (let alone Japan) look worse? Growth. Economic growth in the U.S. is significantly higher than in the rest of the developed world -- and faster economic growth covers a multitude of financial sins.
    Again using OECD projections, the U.S. economy will grow by 3.3% in 2005 and 3.6% in 2006 (in real terms, that is, after subtracting inflation). France's economy will grow by just 2% in 2005 and 2.3% in 2006. Germany will struggle with even slower growth of 1.4% in 2005 and 2.3% in 2006. For the euro-zone as a whole, growth will come in at 1.9% in 2005 and 2.5% in 2006. Japan, the home of the yen, is projected to show economic growth of just 2.1% in 2005 and 2.3% in 2006.

    Demographic burdens. In the U.S., we've got a Social Security crisis, to use President Bush's word, because the ratio of workers paying into Social Security to the retirees receiving benefits has fallen to 3.4 workers to one retiree in 2000, from 16.5 workers to one retiree in 1950. And it's headed to a 2-to-1 ratio by 2030. Paying for the pensions and health care of those retirees when the number of workers is shrinking is enough to bust any budget.
    Well, then, think how much worse the financial squeeze is in countries where the population is aging more quickly than it is here. In the euro-zone countries right now, there are 35 people of retirement age to every 100 of working age, according to the U.N. (In the U.S., the ratio is about 15 to 100, by my calculations.)

    By 2050, the ratio in euro-land will be 75 people of pension age to every 100 workers, and in countries such as Italy and Spain, the ratio will be close to 1 to 1. German workers already pay almost 30% of their wages into the state pension plan. In Europe those demographics will, I think, make the OECD forecasts of falling budget deficits wildly optimistic, because they're founded on the assumption that European governments will be able to get the huge pension liabilities for their huge force of government workers under control.

    In Japan, where the population is aging even faster, the budget problem is even worse. Fully one-third of Japan's population will be 60 years or older within a decade, according to Phillip Longman's book The Empty Cradle.

    A Floor for the Dollar

    OK, so let's sum up. The U.S. is faced with a huge budget deficit that makes foreign investors nervous about holding dollars. But as a percentage of GDP, that deficit isn't that much worse than those in Europe and better than the one in Japan, the homes of the two major competing global currencies. In addition, the U.S. economy is growing faster than those of Europe and Japan, and our budget-busting demographic burden isn't as serious as those faced by the Europeans and the Japanese.

    To me, this situation puts a limit on how far the dollar will fall against the euro and the yen, the two other major international trading and investing currencies. The current decline of the dollar against those currencies comes as foreign central banks decide to diversify their holdings of foreign exchange. For a central bank like the Bank of Korea, for example, that means reducing the current 60% to 65% of the bank's $210 billion in foreign-exchange reserves now in dollars by adding investments in euros, yen and a few other currencies. Globally, the U.S. dollar made up 64% of central bank reserves at the end of 2003.

    If foreign central banks stopped buying dollars entirely, according to Wall Street estimates the dollar would have to drop another 30% and U.S. bond yields would have to climb by 4.5 percentage points to attract enough private capital to fill the gap.

    That's a worst-case scenario, and you'll note that it's still well short of the end of the world. And because you can't just sell a dollar without buying some other currency, the weaknesses in the yen and euro economies mean that the move away from dollars will stop well short of that. For example, even today, the yen makes up only 5% of central-bank reserves, because Japanese government bonds yield almost nothing and because the attractiveness of the yen is dampened, shall we say, for anyone who understands Japan's impending budget meltdown.

    The same with the euro; euro-denominated bonds yield less than U.S. Treasuries, making diversification out of dollars and into euros prudent in the long run but painful in the short run. Closing that dollar/euro yield gap doesn't seem to be in the cards, either, because raising interest rates in Europe would slow those slow-growing economies even more.

    Asian Banks to the Fed: Raise Rates

    In fact, you can see all the talk about diversification from Asian central banks as just a signal to the U.S. Federal Reserve. The message? If you want us to keep holding dollars, keep raising U.S. interest rates so that holding dollars will produce more income for the world's creditor banks.
    And as
  5. [verwijderd] 24 maart 2005 14:28
    And as my comparison of the economies and budgets of the dollar, euro and yen economies should tell you, the U.S., thanks to its faster economic growth rate, has more room to raise interest rates -- without producing a recession -- than the economies of its currency competitors.

    So, yes, the U.S. dollar is headed lower, U.S. interest rates are headed higher, and U.S. economic growth won't be as fast as now projected, but all this decline will stop well short of the dollar disaster that might produce a domestic or global financial meltdown ... all because the economies of Europe and Japan are in even worse shape than ours is.

    Now, doesn't that make you feel better?
  6. niek60 24 maart 2005 15:33
    Een prachtig verhaal van Jim Jubak, maar hoe wordt de economische groei bepaald?
    Als in amerika een meer geavanceerde auto of computer of wat dan ook op de markt komt, nemen ze de meerwaarde mee in de groeicijfers, want redeneren ze, we hebben een computer in de markt gezet die meer kan, dus meer bijdraagt aan de economische groei, al wordt die voor dezelfde prijs (of goedkoper, onder invloed van concurrentie) verkocht.
    Zo ook met andere producten.
    Ik vraag me af of dat in Japan of elders ook op deze manier in de cijfers tot uitdrukking komt anders vergelijk je appels met peren.
    Clinton kon zich laten verwennen, maar Bush doet het op de economische manier.
    Zo ook met de werkloosheidcijfers, na drie maanden ben je als werkloze niet meer in de statistieken vertegenwoordigd, je wordt geacht weer aan het werk te zijn, want je wordt er gewoon uitgegooid.
    Dus vraag ik me af gaat het wel zo goed in amerika of willen ze gewoon de dollar een steuntje in de rug geven, want dollars hebben ze hard nodig.
    De schuld neemt dagelijks met een paar miljard toe!!!!!!
    Hoe houden ze dat vol, de drukpersen draaien volop, inflatoire financiering vandaar ook dat de rente omhoog MOET.
74 Posts
Pagina: 1 2 3 4 »» | Laatste |Omhoog ↑

Meedoen aan de discussie?

Word nu gratis lid of log in met je emailadres en wachtwoord.