Finansium Newsletter December 2012
The approval of a new rescue package for Greece in November came as no surprise to the market. No significant trend came out of the approval and the markets stay insecure.
India’s gold imports in 2012 is estimated to drop by around 25% from last year as a result of high prices, poor liquidity, high inflation and a hike in customs duty. This puts a lot of pressure on the gold prices.
The United States fiscal cliff is a term referring to the economic effect of a number of laws which could result in tax increases, spending cuts, and a corresponding reduction in the budget deficit beginning in 2013. The doubt that the republicans and democrats can reach an agreement before the fiscal cliff creates more turbulence and less activites on the market. Volumes on the financial markets are in general lower than normal, which is seen in both stock and forex markets.
China selected First ranked Vice-Premier and deputy party secretary Xi Jinping and Vice-Premier and deputy party secretary, Li Keqiang, as the top leaders of the Communist Party.
The number of opened trades were on the lower range of a normal month, due to the lack of strong trends. If the market continues to look positive on the stability of the Euro, we will open up for trading in a stronger Euro.
Finansium Forex G7 v1 fund since 1-May-2011: +41.40% (USD NAV)
Nov 2012: +0.61%
Finansium Forex G7 v2 fund since 1-July-2011: +28.79% (USD NAV)
Nov 2012: +0.87%
Finansium Forex G7 v3 fund since 1-Jan-2012: +20.55% (USD NAV)
Nov 2012: +1.20%
Read more about Finansium and our funds at http://www.finansium.se/asset_management.html
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