G7: Patient is still in intensive care, and has suffered breathing problems. His condition is stable, but the risk of a relapse is present.

[RTFX-Trading]

G7: Patient is still in intensive care, and has suffered breathing problems. His condition is stable, but the risk of a relapse is present.

What's new:
Switzerland Roth: Shall intervene in the foreign exchange market when necessary.
G7: the recession that hit the world economy seems to be diminishing.
IMF urged major economies to prioritize the consolidation of the financial sector.
G20: Should triple the resources of the IMF to increase to $ 750 billion.
Emerging Countries: Want increased representation in the IMF by January 2011.
ECB Trichet: skeptical about the methodology used by the IMF to measure toxic impairments.

Today:
08:00 Germany: Climate index of consumption GFK May, expected 2.3, previous 2.4.
18:00 U.S. Fed manufacturing index of Chicago in March, previous 83.8.

Rates in Asia and Indices:

EURUSD: 1.3247 - 1.3152.
USDCHF: 1.1451-1.1361.
GBPUSD: 1.4676 - 1.4580.
EURCHF: 1.5082 - 1.5031.
USDJPY: 97.11 - 96.52.
DowJones 8,076 +1.50%.
NASDAQ: +2.15% 1,373.
S & P 500: 866 +1.68%.
Nikkei: -0.12% 8,697.
Oil: $ 50.36 -2.31%.
GOLD: $ 914.65 +0.39%.

Comments:

The chairman of the SNB, Jean-Pierre Roth, said on Saturday, in Washington, that the foreign exchange market should be aware that the SNB is ready to intervene if the evolution of the Swiss franc created new fears of inflation. Rate cuts and liquidity injections have already been used; the SNB had no choice in mid-March to intervene directly in the foreign exchange market to halt the rise of the Swiss franc against the euro.

As regards to the G7 meeting in Washington this weekend; the G7 and the IMF declared a glimpse of the first encouraging signs of a stabilization or a thinning of the global economic situation. Nevertheless, the matter to observe the best emerging powers represented at the International Monetary Fund remains fully open. The U.S. Treasury Secretary. Timothy Geithner, declared that to be somewhat encouraged, but continued that it would be a wrong doing to conclude that the crisis which hit the world economy in the early fall of 2008 is over.

 
On a concluding note, the hard hit G7 patient is still in intensive care and has had breathing problems. His condition is nonetheless stable, but the risk of a relapse is still present.

 

Good Day

 

Nicolas Longchamp

RTFX Ltd
Head Office

Level 2, Suite 2, The Cornerstone Complex, 16th September Square | Mosta MST 1180 | Malta
Tel:  +356 27 78 01 35

Fax: +356 21 41 24 58

Web: www.rtfx.com

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