EBENE, MAURITIUS -- (Marketwire) -- 12/11/12 -- In his Market Brief of The Week for 10 December, leading global foreign exchange trader, educator and author Mario Sant Singh focuses on the last round of 2012 Global Purchasing Managers' Indexes, with the end of the world nowhere in sight.
Key events to focus on this week, include the China Trade Balance, the Federal Chinese Trade balance, the Federal Open Market Committee (FOMC) Statement, the HSBC Flash manufacturing PMI, U.S. Retail Sales, Germany's Flash manufacturing PMI, the Eurogroup meeting, the European Union (EU) Summit, and Eurozone Flash manufacturing PMI.
China has reported another round of solid economic releases. While both exports and imports shrank in November, the Consumer Price Index (CPI) rose YoY to 2% from 1.7%, industrial production rose 10.1% from 9.6% in October and continued its uptrend, and retail sales rebounded to 14.9%.
"Infrastructure investment approved in May by the National Development and Reform Commission (NDRC) is still the main driver of the current Chinese economy," said Mario Sant Singh - whose views are widely sought after in the Forex industry. "I expect it will be the same case next year, and all indicators recently released indicate that 4Q Gross Domestic Product (GDP) is set to rebound."
In the Eurozone, the single currency dropped sharply on speculation of a possible European Central Bank (ECB) rate cut, but in the end the prevailing consensus was to leave the rates unchanged last week.
Said Mario, "This round, the rise of the unemployment rate, instead of sovereign debts concern, was probably responsible for several members of the Governing Council pushing for monetary easing.
"For currency trading. the latest round of strong Chinese data supports my 'Aussie Bullish' view, and I believe the AUDUSD remains supported near 1.0470," he added.
Click here to read this week's Market Brief of the Week. Mario's articles also keep traders up to date.
Mario Sant Singh's popular blog, his weekly market webinar, and his briefs and reports provide direct channels for some of the best-informed educational resources that new and experienced traders can access to improve their knowledge of Forex and related investment markets.
ABOUT MARIO SANT SINGH
Mario Singh is the Director of Trading & Education at global retail Forex brokerage FXPRIMUS. He has appeared as a guest expert on CNBC more than 35 times to talk about foreign exchange markets, and is a regular contributor to top investment publications and online portals. Known as a brilliant and intense communicator with a unique ability to 'keep Forex simple' and a mission to help every man-in-the-street to trade profitably and responsibly in the Forex market, more than 20,000 people have attended his Forex trading programs. He is the only Forex trader in Asia invited to train Julius Baer Private Bankers - the third largest Swiss Bank, and is the author of the forthcoming book: How to Profit in the Forex Market: 17 Proven Strategies (Wiley Publishing).
FXPRIMUS offers retail traders a level of trade execution, service quality and fund safety that are normally reserved only for the largest investors. Serving traders in 205 countries across 6 continents FXPRIMUS combines an unmatched level of fund safety with regular independent audits of company financials and Straight Through Processing, top notch execution with tight spreads, prompt and responsive customer support, ISO 27001 certification in Information Security and an industry-leading trader toolset that includes free access to powerful trader tools and personal coaching via FXPRIMUS Coach, FXPRIMUS truly is The Safest Place To Trade.
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