blogs

welcom

Pages

welcom

dimanche 21 octobre 2012

History of forex



bretton woods agreements

conference at the end of the Second World War

objective restore the economic order

agreement making the dollar the world currency basis (instead of gold)

fixing the dollar at a fixed value of $ 35 per ounce of gold "gold stallion"

over other currencies fixed to the dollar


agreements Smithsonian

President Nixon in 1971

abandonment of the fixed exchange rate regime and "Male gold"

Birth of a floating exchange rate and therefore the forex

forex: forex exchange


the currency pair: value of one currency into another currency ex eurusd = 1.4350 means that the euro is worth 1.4350 dollars
sales discovered: setting down of an asset sale commitment to purchase and 1.40 to 1.30 for delivery gain: 1.40 - 1.30 = 0.1
the pips: unit change currency eg 1.43 to 1.4350 gain 50 pips
lots: standard quantity 1000 10000 100000

batch size value of a pip
1000 0.1 usd
10000 1 usd
100 000 10 usd

Leverage: difference between the two extreme multiplier of capital

margin
margin available capital available to perform operations
margin used capital used for ongoing operations
if current position is 100 dollar loser, headroom is reduced by 100 dollar
the margin reaches 0: automatic closing of positions

equipment
PC triple screen + commexion Broadband

candle Bollinger Bands RSI OBV



meche
wick of a candle represents the number of buyer and seller
if the wick is down (bottom of the candle) this means that there are purchases.
if the wick is up (the top of the plug), this means that there are sales.

Bollinger Bands
top curve: curves Sales
lower curves: curves purchases
middle curve moving average
when the wick intersects the curve high: indicates sales
when the wick cut the bottom curve: signal purchase

RSI
indicator of 0 to 100
medium 30-70
s indicates oversold when there is less than 30 c
s indicates overbought ago when c is greater than 70
time to buy when the stock breaks the area up to 30
time to sell when the stock breaks the area down 70

OBV
on balance volume shows the volume of value
cumulative volumes of indicator value according to changes in
pressure allows appreciated buy or sell
and the risk of reversal of the trend

example obv increase represents an uptrend,
                                     a volume increase up
case of contradiction market is so obv low and prices rise it prefigure a change
       contradiction between price and obv indicates a reversal

GDP

GDP
household expenditure
+
business investment
+
public expenditure
+
net exports
=
GDP

krypton







rate of interest rates, actuarial discount rate



Updateand financial asset pricesJean-Marcel DalbaradeMethods of measurement of financial assets have recentlymore complex, the pace of financial innovation and developmentQuick derivatives: futures, options or swaps. The techniquebase remains the discounted based itselfon conventional calculations of rates, which focuses on thefirst section of this article. Is applied in the second section,these general methods to the case made by the instrumentsthe most important financial and representative.1. Definitions and principlesThe easiest financial transaction consists of two streamspayment of opposite direction, on two separate dates. This operation bysuch a loan and its repayment or purchase of an asset u zerocoupon ", and resale (Figure 1) is the main support forpresentation of basic definitions, all related to vocabularyrate.Figure 1 - The basic operation "zero-coupon" F,F0 t F (t)1.1. The interest rateIn the elementary operation to two flows, the difference between thesecond stream of the first flow and repayment of the loan is calledinterest. The amount of interest paid by the borrower, is calculatedgenerally with an annual percentage of the amount ofthe operation, the rate of interest i, applied to the time, expressed inyears.Numerous conventions, in particular related to the calculation of thistime t, corresponding to as many assessment methods that amount,or which allows to deduce the second stream from the first or,Conversely, the initial payment from the refund.Formulas [1] and [2] are two classic examples whererefund is calculated from the amount borrowed, either bysimple interest calculation proportional to time or by calculatingcompound of interest, the growth of the second flow with respect to timethen being exponentiallyFt = Fo (1 + it) [1]Fo = ft (1 + i) [2]This second method of calculation has a significant advantage over thefirst, that of allowing the composition to different periodssuccessive (hence its name) flows received, placed at the same rateannual interest. If, indeed, after having taken an amount for Fàa time tl, it reinvests the first payment for a Fltime t2, we get a second stream of reimbursement F2 as:F1 F2 = (1 + i) t2 = Fo (1 + i) t1 + (1 + i) t2 = Fo (1 + i) tl + t2result [3] which is strictly equivalent to the placement of the initial flux Fo ~the lengthTotal tl + t2The calculation of simple interest obviously leads to the same result,since the term (1 + iti) (1 + it2) is not equal to i + 1 (t + t2). Thedefinitiona simple interest rate is thus fundamentally related to the durationits application (regardless of any complication related to thecurve).For operations whose duration is longer than one year, severalPayments usually take place between the beginning and the end ofreimbursement. These payments are in practice either flowinterest intermediaries, or partial repayments ofcapital. It is useful to understand these calculations, decomposethe overall operation several elementary operations (two-stream)sometimes by chaining them in time, or by superimposingthe original date, several simultaneous operations zero-coupon.1.2. The continuous rateThe interest rate continuously, denoted r, is a simple interest rate,annual applicable over a much shorter rlt, whereassumes reinvestment of the interest continuous.Growth of an initial flow FL is such that, at each instant t:
1.3. The actuarialThe actuarial rate (or yield to maturity) of an operationfinancial rate of interest, compounded annual, which allowsreplenish its cash flows.In practice, the date of the first stream is chosen as the origin, itis always possible to assume that all flows are furthereach flow to repay a zero-coupon transaction whosefirst stream is paid to the original date. Equation [5] then expressedknown that the initial flow Fo is the sum of all the first stream,calculated from the repayment flows, also known, andCAGR unknown.Figure 2 - An operation to any multiple streamsF0 = [F1 / (1 + i) exp t1] + [F2 / (1 + i) exp t2] + ... + [Fn / (1 + i) exp tn]This equation [5] we deduce, by iterative methods, the valuethe only unknown, the actuarial rate i.1.4. The rate of returnFinancial transactions are not the only ones to berepresented by a stream pattern offset in time. Ofbusiness investment, with durable goods orstocks, followed by operating revenues, are operations thatrespond to the same logic and can therefore besubject to the same calculations.Rate of return, also known as "internal rate of return"Is thus equivalent among economists or managersbusiness, the yield to maturity of the financial statements.1.5. The discount rateThe discount rate measures the degree of preference for the present(Or conversely, the cost of waiting) of economic agent, thea priori preference being expressed subjectively by comparingchanges in income over time by definition, if a is theannual discount rate, received around 1 franc, equivalent to (1+ A) francs a year, equivalent to itself of hui is EQ1 + a) 2francs in two years of dansitivité urea preferences of a rateconstant at (1 + a) t francs received bConversely, and this is the normal use of the discount rate, amountafter a time t is now equivalent to 1 / (i + a) talso called "1 franc updated."we can evaluate the equivalent unee date today (even nonewhole) byFt any amount received at a future date by the formula formula:_ F0 = Ft / (1 + a) tIn this equation, Fo is paid today to say pourc'estupdated the amount rece Ft. This may be the price p in the future.

travel fasterthe lichtwarp



TRAVEL FASTERTHE LIGHTWARP DRIVE PROJECTMove at speeds superluminal deforming the fabricspace-time, like the StarTrek spacecraft sofabulous project concept Warp Drive, which offers a theoretical modelmay be a realistic solution to undertake space travelfuture and consider exploring other galaxies. "Weoffer a detailed dossier on the possible applications of the WarpDrive under current technology and knowledgecosmic.Originally: Star Trekfor fans of the Star Trek saga, the image has become one of the cultfamous starship Enterprise launched suddenly at breakneck speedin the space, leaving in its wake a flash of lightintense. A technique allowing stellar travel crewCaptain James T Kirk crossingimpressive distances across the universe in record time.In the science fiction series Star Trek, createdin the Sixties by Gene Roddenberry (1921-1991), humanityindeed developed space travel at superluminal speed aftera post-apocalyptic mid century XXlème (see ourbox). Futuristic technology called "Warp Drive" has beenpoint it is a device that generates an intense fielddistortion and allow spacecraft to travel at a speedexceeding that of light, in a bubble "subspace". Thissphere then slides on the cosmic wave generated by the fielddistortion as a surfer on a monstrous wave. The effect isdramatically once entered into the onboard computer coordinates thethe region that stellar crew of the Enterprise wants to achieve,the ship suddenly file at a phenomenal rate and disappearsa fraction of a second ... to reappear moments later inthe desired geographical area. The Science of Star Trek Warp Driveis so exotic that it seems unlikely.Distortion of the fabric of space caused by the Warp Drive imaginedby Alcubierre would Oaffranchir the theory ofEinstein's relativity and relativistic effects such conventionalthat time dilation and delicate temporal paradoxes. 'However, in recent years, astrophysicists believe-powerapply this technology one day science fiction to our reality! Then the Warp Drive for real, is it possible?science fiction to our reality! Then the Warp Drive for realis it possible?The brilliant intuition of AlcubierreThe question could not be more legitimate since 1994, whenMexican physicist Miguel Alcubierre proposed a mathematical modelwho immediately controversy in the scientific community, ascontent seemed to exceed the most daring technologiesscience fiction. According Alcubierre, it would indeed be possibleto travel at speeds superluminal by creating a field ofdistortion in space-time! According to Einstein andtheory of general relativity, it is not yet aobject moves faster than light, know more 299 792 458meters per second, how he manages Alcubierre then aroundthis cosmic law? Mexican physicist theory is ambitious anddeeply clever: it is to stretch the space-time! Thanks toone warp engine fueled with exotic matter,the spacetime shrinks at the front of the spacecraft (which attractsthe point of arrival) and expands to the rear of the machine (whichpushes the starting point). Wrapped in a warp bubble -qu'Alcubierre called "bubble string in flat space" - the machineremains stationary,carried by this negative energy bubble surfing at speedsdementia on the cosmic wave created. Distortion of the fabric
 
would then be free of the effects of Einstein and relativistic% conventional t / n and delicate time temporal paradoxes: for it is not the ship that moves faster than light (it still remains rather ), and the bubble which transports! To better understand the concept, just imagine a tapisroulant fast as those that can borrow oports stations and the person who stands on a treadmill is immobile and yet crosses a certain distance, more than idement if it had moved Js ... Another advantage of Warp Drive, passengers may travel long distances to astronomical superluminal speeds without feeling the least gravitational acceleration: polish, which they otherwise would. Based on theoretical calculations of the scientist, the warp bubble (Warp Bubble) may travel several-thousand-times faster than the light velocity that exceeds our just hear-ing. The Alcubierre metric seduced by its originality, and many scientists question whether this mathematical model, which is for the moment only speculative, is not the key to the future of space travel. But moving from theory to practice, a major problemstands in front astrophysicists: how to create the famouswarp bubble to surf a wave of space-time?In search of exotic energy According to experts who have studiedthe Alcubierre equations, the only way to design a modesuperluminal propulsion viable to expect travel faster than thelight is created around the ship a riPnciré energynegative. Needless to say, in the present state of our knowledge,such technology is far from being a point! Unlikely but notinsurmountable meet many aerospace experts who believethat the solution lies in a better understanding of the cosmos-andhis famous material exotique.Rappelons the exact composition ofthe universe remains unclear, even to researchers and the organizationsmore relevant: the latest official figures, about 75% ofcosmos is composed of matter ... unknown! Experts call the"Dark Energy" or the "energy ie black" ... With further advances in these mysterious particles in the universe - much is expected of experiments with the LHC (Large HadronCollider) for a few months - it is possible to consider long-term i, development of technical space using this form of energy NEGU ive whose properties are currently ignored. Some UFO propulsion modes c could also, to use that dark energy pourl'instant abandoned by our navettc space, as suggested Augus Eessen in an article titled "M propulsion of UFOs and theses Claude Poher" ~"(...) There would be a supply of usable energy at our door, inside of our solar system and we can think of UFOs, installed on Mars or asteroids, for example, s' There currently supply. In any case, the observations suggest the way they UFOs axploitent conventional energy source: ional. "Engine plasma engine or antimatter warp field warp drive, anything is possible once pierced the mystery of dark energy.Energy demand phenomenal Studying techniquespropulsion for interstellar travel possible,several scientists have found no device broughttruly satisfactory solution. Nuclear propulsionis too dangerous chemical propulsion requiresbulky tanks for poor performance, propulsionplasma is unstable and cause many side effectsthe travelers, antimatter propulsion -----------is currently overpriced (I milligram of antimatter costsbillions of dollars in production costs!), whilepropulsion means of a sail stellar (which uses the pressure ofradiation exerted by the Sun or stars) can justNo attei__ of q ~ d_ r_e km parseconde and therefore agree that for a, rorhP rl'un cyttPme Planétair ~ at low speed. Some researchers then began to wonder: what if the drive does not represent the future of interstellar travel tomorrow? This is where the strength of the project Warp Drive: remember that the spacecraft remains stationary and does not require any energy storage on board, it is the warp bubble .. -which, on the wave of distorted moves faster than theLight. Exit the puzzle propulsion! However, a sourceexotic energy is necessary for a field generatordistortion manipulates space-time envelope and the vehicle in a bubblenegative energy. And therein lies the rub: the distortionspace-time requires tremendous energy. Felt that the first equations to form a warp bubble radius of 100 meters, there should be a negative amount of energy 10 billion times the known mass of the entire universe! The Belgian scientist ChristianVan Den Broeck proposed fortunately a slight modification of the Alcubierre metric, achieving significantly reduce the amount of energy required to form a warp bubble, but according to his calculations must still equivalent energymass of 3 suns to transport small atoms via the simpleWarp Drive ...Warp Drive and string theoryAnother technical issue arises: what can look like thisfamous "warp drive"? Two physicists from BaylorUniversity, Gerald Cleaver and Richard Obousy, tried this yearto imagine a consistent pattern in the project Warp Drive(See illustrations)."We believe we can create a warp drive based ongeneral relativity and string theory (...) The fabric of spacespread faster than the speed of light in the past,we recréerions the inflationary period of the universe behindship "the two scholars speculate. To create a contractionspacetime the front of the ship and expansion of space-timeat the back, and Cleaver Obousy offer manipulate the IInddimension of the universe predicted by string theory. it wouldthen possible to be born black bubble of energy, composed ofthe same material exotic responsible expansion of the Universe."These calculations involve technology than wecurrently have "the researchers admit, consideringhundreds of years of research before the development of atrue experimental design. Theoretical physicist Lawrence Ford of Tufts University also has a passion for the theory:"If there are extra dimensions, and we canhandle, it opens up all sorts of exciting possibilities. Inot hear the immediate creation of a warp drive, itcould lead to other interesting opportunities in thebasic scientific research "says NASA il.La personalso addressed the issue, devoting a completeon vogages superluminal entitled "Warp Drive, When? "(TheWarp Drive, this is when). At the head of the research programWarp Drive on, Marc Millis, a specialist in propulsion systemsspatial seriously considering significant advances inthis area, although it will probably take several generations toa concrete technology was born. Bloom alsoAmounts of Internet sites - mostly in English - on the theory ofWarp Drive and its possible applications. Perhaps an amateurinspired propose a prototype warp drive much earlieryou think? And we can also expect a surge lightningknowledge in astrophysics through recovery of aexploiting alien technology Warp Drive!Manipulate the space-time is a fantasy ... for now!Many critics of the project Warp Drive. According to them, exceed the speed of light is itself an aberration. Maybe he is important to remember that any time, scientists have triedset limits to our imagination. However, many ofdeemed impassable barriers have already been overcome: flythrough the wall of sound, launch a satellite into orbit, send aspacecraft on the Moon, put a robot on Mars ... Todaytechnological challenge is to invent interstellar traveltomorrow. The ability to move one day in the Universe tosuperluminal speed by exploiting exotic matter fordistort space-time is far from being grotesque in itself. AndWarp Drive is positioned as one of the most promising projects, as evidenced by the growing interest of large aerospace firms for this concept. Maybe we will hundreds of yearsdesign a prototype warp drive. Perhaps the programResearch will he instead abandoned in view of the obstaclestechnological encountered. Anyway, never forget thewise words of the great Stephen Hawking, authoritativedecades the scientific community, "Sciencefiction suggests ideas that scientists integrate theirtheories, but sometimes science gives rise to notionsbizarre than any science fiction "...

forex fundamental analysis and technical

forex: Fundamental analysis and technicalfundamental analysis of forex
take a position on statistics by the news media macroeconomic data
what influences forex:interest rates set by central banksinterest rate and growth: decreased rate less money stimulates growth
                                               
high book better remunerated capital inflowsGDP quarterly publicationpublished monthly rate
What are the factors impacting the forex?
meetings of central banksunemployment rateimport export: trade balancemanufactured evidence
safe haven currency USD, JPY, CHFcurrency risk for enjoying EUR, AUD, NZD, GBPadvantage of real-time statistics: strategy of "vulture" very risky strategyenjoy statistics to identify significant levels: recommended
in the case of a statistical publication and that you are in position: strategy can HEDGING: cover positiontake an opposite position to the current positionOnce the direction of the market known to abandon the position opposite trend
fundamental analysis EURUSD
growth perspective: if USA have better growth prospects than europe EUR / USD declinesinflation: if inflation in the euro area is superior to inflation devaluation USA, EURUSD declinesmonetary policy interest rates of central banks: if rates are superior in the usa USA that Europe EURUSD declineslong rate, if long-term rates in Europe are superior to those of the USA EURUSD declinesbalance of trade if imports of American products is superior to imports of products european EURUSD declines
trend line is a support and a movable resistance oblique or1support and resistance1.1 Identify the peaks and troughs of Dow theory if the highest and lowest are rising uptrend
1.2 uptrend line connecting the hollow cavity lined upward1.2.1achat to approach the line1.2.2 sale if broken
03.01 bearish trend line connects the dots aligned peaks to lower1.3.1vente the approach line1.3.2 purchase if brokenwait up as follows: the pullback and enter the ordertrading place orders to buy or sell on line

2 channelshorizontal channels: channel consolidationascending channel: uptrend channelchannels down: downward channel
tradingto approach the lower limit: purchaseapproaching the upper limit: sale
Three triangles are continuation patternspredominantly rise to the output of the triangle if the bull entered the trianglesymmetrical triangleascending triangle breaks up the uptrenddescending triangle broken down by the bearish trend
tradingcontinuation pattern pause in the trend of the output of pending triangle to position
4 reversalis to identify a trend reversal rule of the highest and lowest:above is lower growing DIMINISHING become bearish trend to uptrend
Figures turning
shoulder head shoulder
shoulder head shoulder reversed
indicatorsfind trading signals
CCI comodity channel indicator used to indicate that a trend starts detector trend period 5principle when going from - 100 to + 100 buy signal
              
when going from 100 to - 100 sell signalsignals buyer downtop seller signalsworks in reverse rsilook for differences is to identify differences between the orientation of the indicator and prices.for example there were two high points on prices and DIMINISHING two points on the indicator: bearish divergence. this divergence bearish bearish trend announces future courses.
stochasticInformation signal when the red curve falls below the blue curve: Information signalfind the middle between terminalscrossing is a short-term movementthe buy signal is in the oversold zoneInformation signal is in the overbought arearely on two indicators Stochastic and CCIfind the signal and bearish stochastic divergence of bearish indicator: Announcement lower future prices.bearish divergence indicator and the two high points of course announce lower prices and vice versa., a bullish divergence points below the indicator warns the upward phase.
standard deviationshows the volume of the marketdevaluationin the c ase of a devaluation, a currency is depreciating its value to promote exports. eg EUR / JPY if the yen depreciated its value decreases and the value of the euro therefore increases EUR / JPY rises.devaluation of the yen is made to promote the export of Japanese products.
Indicator Heiken ASHIpurchase when we see two candles of the same color growing:One small candle followed by a larger candle purchase prices rise2 waiting for a different color candle to close the position
R.S.Ipurchase = RSI oversold zone (below 30)+candle below the average low Bolinger+candle on a bracket
sale = RSI overbought area (above 70)+candle above the average high of Bolinger+candle on a resistance
indicators:
differencesa difference is a difference in behavior of the indicator and price behavior.example case of RSI: RSI and the price is correle.prendre repere points, peaks and troughs between price and the indicator, see differenceseg there simultannément growing number above the graph above and several descendent of indicators, we are in the presence of a bullish divergence. This bullish divergence indicates an increase in future courses.a divergence between price and indicator is used to predict when will declare rebounds.for bearish divergence: take an interest in the peaks, peakfor bullish divergences take an interest in the hollow, low pointbearish divergence: buyers are signals in the upper part of the indicatorbullish divergence: signals sellers in the lower part of the indicator.follow each higher ROI watch price matching.







bullish divergence: rise in future


 



bullish divergence

rule
1 draw a line in the middle of the indicator
above search bearish signals
below search bullish signals
Draw a bearish divergence two peaks with
draw a bullish divergence with hollow


entry point
entry point to buy three indicators
1 candle on a support
RSI 2 to 30 or below
3 candle below the average low bollinger

entry point for sale 3 indicators
One candle on a resistance
2 rsi 70 or above
3 candle above the average high bollinger




purchase of entree
trend studyrepere a trend and make entries according to the trend and use the indicators to take a stand.differencesBearish divergences research on the peakssearch bullish divergences on hollow
above the middle of the bearish divergence indicator researchbelow the middle of the indicator research bullish divergences
trading1 define the trend2 is positioned according to the trend3 manage the output of the position
type of orderbuy limit: purchase below the currentbuy stop: purchase above the currentsell limit: sales above the currentsell stop: selling below the current
buy purchase limit on the support 1 with a take profit on the strength 1
QE leads to a repurchase obligations issuance of dollar decline in the value of the dollar bearish factor for the dollar (USD)rate cut bearish factor for the eurofind differences which respond to valid filters.avoid use of indicators when you have a flat Evolution.
Technical trading on ads. M5 M15stay out during the first bar after the publication of the report. the bar will be high resulting amplitude movement engendered by speculators. expect that a bar "inside" appears.important when a bar closes above or below the bar "inside", it is advisable to place an order in this direction. placing more than 2 orders. if both are stopped by the stop loss, no open pas.en in general the maximum amplitude of the course reaches during the first 4 hours after the announcement.Keep in mind anticipating the market's reaction can lead to significant losses. It should be noted how the market reacts rather than anticipate / trying to guess what direction to take the course.Wait until the first movement ends only after you can enter the market, having missed the movement induced by speculators.At this point you can enter the market more "thought" that more accurately reflected the consequences of the result of the announcement.Look at this graph: M15 - M5 same rules:1. Stay out in the first bar after the publication of the report (14:30 - 14: 45 in this case).2. Bar 14 :30-14: 45 will be of great amplitude - reflecting the movement engendered by speculators. Wait a bar "Inside" appears (not necessarily bar nearby).3. Important when a bar closes above or below the bar "Inside", it is advisable to place an order in this direction.4. Places up to 2 orders. If the two are "adopted" by the stop / los, do not open more.5. In general, the maximum amplitude of the course. reached during the first 4 hours after the announcement






Market AnalysisOne study trend4 possibilitiesbullishbearish
 
neutralreversal (in the case of summer): shoulder head shoulder
2 analyzes trading signalsstudy of divergence
A spread rate is a rate differential actuarial found on the market, between the rate of a bond and the rate of a government bond equivalent safely. It is used to compare the relative values ​​of different rate instruments.By convention, a yield to maturity is the rate of investment or investment for a period of one year for which the interest is received or paid after one year. Thus a CAGR of 10% becomes a $ 100 a $ 110 after 365 days

fundamental usa / europeusa debt 150 160% of GDPeuro zone debt 95% of GDPtrade balance usa 100 billion DEFICIT1 trillion budget deficitquantitative easing printing money to buy American debt, monetization of debtplan assistance by EFSF europe or MES Draghirepurchase obligation in the secondary market + market EFSFrecession in 2013 in the USA: fiscacliff
The subprime crisis broke out in the second half of 2006 with the crash of loans (mortgages) at risk in the U.S. (subprime) that borrowers often modest, were no longer able to repayThe banking and financial crisis in the fall of 2008 is the second phase of the financial crisis of 2007-2010, after the subprime crisis in the summer of 2007. [1] This second phase [2], marked by an increase in the liquidity crisis and the crisis of confidence and an additional credit inflation by increasing the interbank rate, affecting all countries of the world. It quickly spread to the stock market by falling prices (some speak of the "crash of autumn 2008" [3]), while the credit crunch for companies and households weigh on economic activity World. wikipedia
1 currency management: how to use the stop loss and take profit: capital management2 financial information: important announcement varied courses fluctuations wait until the motion correction, search the candle inside
30/08/2012usa Q.E3 quantitative easing: creation monetary, liquidity injection, printing money, the money supply process is increased from usa to buy American debt, monetization of debt. therefore decrease the value of the dollar (increase of eur / usd), loss of the dollar to the Chinese The Chinese China dollars.La 2000 billion will broaden its investments euro. purchase obligation of states to boost EU economy the European and usa to sell its products in europe and usa.
Europe The President of the ECB decided it was the "responsibility" of the monetary institute to intervene in the debt market and buy sovereign bonds maturing in less than three years was not the creation monetary
The convergence criteria stipulate an area not to exceed:1.Stabilité prices: inflation of a Member State must not exceed by more than 1.5 percentage points that of the three Member States with the best results in terms of price stability2.Situation public finances:1.déficit public (state + social security) less than 3% annual GDP [N 1]2.Dette public (all borrowings by the State and the general government, including social security) less than 60% of GDP [N 1]3.Taux exchange: Devaluation excluded (obsolete measure for the countries of the euro area).4.Taux interest long term should not exceed more than 2% of those three Member States with the best results in terms of price stability.
situation in Europe, increased public debt and public deficit increased growth slowdown, recession, the public deficit to 4.5% of passes the GDP convergence criteria announced that the public deficit should not exceed 3% of GDP. policy of reducing interest charges, rates of interest debt, public deficit decreased by increasing taxes. two years restabilization ratio of public deficit / GDP.the long-term rate of spain and greece out of the fourth criterion therefore purchase obligation by refinancing the shorter term to reduce long-term risk.
forexfactorygood results: greenbad results: redif the results are good then bad for EUR USDif the results are good then bad for EUR USD
inflation rate best rate 2% Germany Franceworse rate 3% Spain ItalyFrance has debt exceed 80% of GDP.public deficit 4.5% of GDP.forecasting weak growth in the euro area 1% Germany 0.9%
long rates international market debtgreece 20% that the Troika told them to call the EFSF borrowSpain 5.8%Italy 5%France 2%Germany 1.4%Finland 1.4%Austria 1.4%(See chart rate to ten years)

European stability mechanism MES, recapitalization of the banking sector of 53 billion euros Spain
fiscalcliffN 98% of Americans have no tax increase ofreturned in Februarydebt ceiling reached on December 312 months of respite for the amount of budget cutsthe level of indebtedness will continue, but growth will be better.2 months to find a budget agreement strengthens the dollar and the dollar index risesdebt continued to USAif there is no borrowing of there is less investment less consumption means less growth
strategy of the ECB: sale of short-term obligation to redeem in long-term bondsConsequently lower rates.if there is a decline in interest rates in Europe there is a decline in the euro.ECB's website
rule of postponing ranks
changec reserve of reserve currency is the foreign currency held by central banks.when a company buys it abroad to request his bank foreign currency that requires the central bank. ECB holds reserves of foreign currency: exchange reserve.
The Fed rate to 0%. not before the end of 2015 to raise the rate in the USA. C is a very low rate of pay little attraction for little capital investment dollar.