EBENE, MAURITIUS -- (Marketwire) -- 01/31/13 -- Going into February 2013, fiscal and monetary policies are getting bolder, the S&P 500 Index (SPX) is approaching its historical high, and early repayment of the long-term refinancing operations (LTRO) from Euro banks indicates that the two-and-a-half year Euro Zone debts crisis is abating.
Mario looked at the USD, the AUD in light of the China uptrend and JPY weakening this month, and at realistic profit targets for retail Forex traders amongst other topics, in his AskMarioSingh.com blog, "Your toughest Forex Questions answered daily".
Said Mario, "I believe the USD will weaken further in the long run, and its status as a safe haven currency or even as a reserve currency might be threatened. The market is beginning to wake up to the fact that indefinite Quantitative Easing (QE) will continue devaluing the Dollar and result in inflation, or perhaps even hyperinflation."
On the implications of the Chinese economy's apparent uptrend, Mario cited last quarter's Gross Domestic Product (GDP) growth and continued stimulus from big government projects, as factors that will indirectly boost the Australian economy as well, as Australia exports a huge portion of raw materials to China. A positive Chinese Manufacturing Purchasing Managers' Index (PMI) this Thursday, should support the AUDUSD and rally the AUDJPY in the short term, with the weakening JPY due to Prime Minister Shinzo Abe's monetary stimulus.
"The JPY has been on a downward slide since the new Prime Minister came into office," said Mario. "A widely known advocate of "unlimited easing," he criticized the Bank of Japan (BoJ) for not doing enough to help Japan get out of its deflation cycle, and he wants the JPY to weaken further in order to help the export-reliant Japanese economy," he explained.
On whether it is possible to earn USD20,000 a month trading the foreign exchange markets, Mario said that to be realistic, retail traders should set an achievable profit target of 6% a month, which means that a profit of USD20,000 would need capital of at least USD334,000. On the other hand, if you aim to profit USD200 a month, your starting capital should be USD3,340 - which is a level most new traders can achieve. Traders can build their capital size by leaving their profit in their accounts. FXPRIMUS Coaching services can shorten the learning curve for trading success, which requires a lot of patience.
The views of Mario Sant Singh - who is Director of Training & Education at FXPRIMUS, are widely sought after in the Forex industry. His popular blog, his weekly market webinar, his daily and weekly market 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.
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