Forex Trading Mentor
Bank of America Chief Economist Mickey Levy Provides Economic Outlook During Congressional TestimonyBank of America Corporation Chief Economist Mickey Levy testified today in Washington, D.C., before the U.S. Congress Joint Economic Committee to discuss the 2006-2007 economic outlook and prospects for future economic growth. (Logo: http://www.newscom.com/cgi-bin/prnh/20050720/CLW086LOGO-b) Levy spoke specifically on the strengths and weaknesses of the economy and about the U.S. current account deficit. Levy believes that:
. PMC Sierra CFO Krock to DepartSANTA CLARA, Calif. — PMC Sierra Inc. said Thursday its chief financial officer and vice president Alan Krock will leave the company for personal reasons after a "reasonable transitional period." The company also said it expects second-quarter sales at the midpoint of its prior guidance range of $108 million to $112 million, excluding revenue from its acquisition of Passave Inc. in May. .NRIs branching out to India'As an NRI, you can't do business in India by telephone and email, you need to set up a proper branch office if you are serious,' said Jayant 'Jay' Kumar in Leicester. He plans to invest in real estate. NRI real estate agents and estate developers have been flooded with requests from their local clients after the Indian government allowed foreign direct investment (FDI) in real estate Feb 24, 2005. At first, Jay made some deals through his business contacts in India but the business has now grown in size and complexity, and he has to set up shop in India. An NRI is allowed to establish a branch office or an office in India to carry out lawful business. So NRIs are allowed to set up offices for export/import of goods, offering professional or consultancy services, representing the parent company and working as a buyer/seller for it, promoting financial or technical collaboration between Indian and parent companies, carrying research work for the parent company, supplying IT and software services, offering technical support to goods or services supplied in India by the parent company, airline/shipping company or any other activity permitted by the Reserve Bank of India (RBI). Morocco: A packed reform agenda1) A strong cereal output and increased tourism receipts will result in a pickup in growth. 2) The resilience of the economy will be boosted by the economic reform program. 3) Currency reform is needed to make exports more competitive. (By Abah Ofon) . Forex - Dollar continues to suffer post-Fed falloutThe dollar continues to suffer from last week's relatively dovish policy statement from the US Federal Reserve and a recovery in risk assets, such as equities. Though the quarter point hike in the Fed funds rate to 5.25 pct was expected, the rate-setting Federal Open Market Committee cautioned about the outlook for growth. In response to the statement, the Fed funds futures now attach a 65 pct of another rate hike in August, down on 80 pct predicted before. 'Its accompanying statement, perceived as more dovish than expected, led to a decline in the dollar and a rally in equity markets,' said Ian Stannard, currency strategist at BNP Paribas. Though Stannard is 'dollar bearish', he said there is 'no reason yet to expect the dollar to fall out of bed', adding that this Friday's crucial US labour market report has the potential to help the US currency rebound. Where a beer costs $150,000I WAS INTRODUCED to the "Zimbabwean wallet" on my first day back in my home country. I needed to change 100 U.S. dollars into local currency, and a friend in Victoria Falls, the resort town where I had just arrived from Zambia, said he knew a black-market money dealer. He called a number, asked for a man codenamed "Mashishe" and inquired what the day's rate was. "Three," came the reply. Could he change $100? It appeared he could. |