Exotic FX Alert – 09.10.08 – Issue #7
Dear Exotic FX Alert Subscriber:
We believe South Africa is veering into failed State status. Other analysts have said it’s a country “on the road to becoming the next Zimbabwe.” We agree. And with commodities markets breaking and a new militant leftist government taking control, we believe the South African rand could be pummeled in the months ahead. [We will provide a full-report early next week. But for now, we want you to enter this trade ASAP!]
New Trading Recommendations
Buy USD/ZAR (South African rand) page2
Positions:
| OPEN Issue Date Issue # Pair Lots Long / Short Entry Last Price % Stop-loss Target 7/30/2008 1 USDTHB 1 Long 33.80 34.645 2.5% 31.80 42.00 8/14/2008 3 USDCZK 1 Long 16.508 17.443 5.7% 15.350 21.300 8/28/2008 4 USDPLN 1 Long 2.2821 2.4156 5.8% 2.0400 3.6800 CLOSED |
Key News:
- South African business confidence dropped to a seven-year low in the third quarter as inflation and gasoline costs climbed to a record, Rand Merchant Bank said.
- China’s inflation weakened to the slowest pace since June 2007 and export growth cooled.
- The Czech economy expanded 4.6 percent in the second quarter, outpacing growth in the euro region, as exports overshadowed the effect of inflation on household consumption.
- Mexico’s peso weakened sharply on Wednesday after a bigger-than-expected quarterly loss at U.S. investment bank Lehman Brothers fanned concerns about the lingering credit crisis in the United States.
Regards,
Jack and JR