EDITOR’s note FX
What happened to the Brics?
Q2 has been a good quarter for the retail forex market. Retail trading volumes are booming, reaching 6% of overall FX market volumes, and Aite Group expects the retail market to continue to grow at more than double the rate of the broader FX market.
Volatility is back. Markets have been unstable over the past weeks and active traders need expert insights to bring light to current macroeconomic events: the Fed’s lack of clarity about tapering, the risk of failure of
the Abenomics
measures, the impact of China’s current investment
currencies strategy,
and the opportunities and risks offered by both emerging markets
and commodity currencies. In this edition we cover these issues through the eyes and analysis of renowned market experts, including Hans Redeker, Marc Chandler, Masashi Murata and Mark DeWaever.
We open this issue with the Emerging
which became the first oil producer with Saudi Arabia - Lukoil recently declared that the oil production should decline from 2016. Bad news in a country where hydrocarbons count for two thirds of the overall exports. India and China’s growths have also slowed down.
Markets situation. A few years ago, Brics were on top of the list of most asset managers. Tese five emerging markets, which seemed to be pulling the world economy, suddenly became less attractive to investors. Protests in Brazil unveiled a strong economic and social crisis in the country. Last year’s growth was only 0.9% (far from the 7.5% of 2010). In Russia -
Alessandro Balsotti gives us an analytical view on the emerging markets “falling knife”, explaining clearly what happened and why EM currencies weakened rapidly. He also warns us about the risks in catching the opportunities offered right now, and helps us understand which currencies are currently the most vulnerable.
On the technical side, you will discover interesting
trading
strategies in this edition including t r ading
pr ic e
gaps, using price as best technical indicator, and you will understand the psychological
aspects
behind manual versus algorithmic strategies.
Wobbling prices and
market instability have always been signs of trading opportunities for forex investors. We trust that our experts’ views and analysis will guide you through these hectic times.
Emmanuelle Girodet FX TRADER MAGAZINE July - September 2013 7
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