Big win of BARACK OBAMA in US presidential election, the first black man fulfilling the dream of the prominent leader of civil rights and human rights of US, MARTIN LUTHER KING jr, which matches and proves the philosophy of the great poet of India, RABINDRANATH TAKUR(TAGORE), created optimism with his bold, emotional, and convincing speech of change, not only in United Sates of America but also worldwide .
I doubt there is any magic to solve this economic problem instantly but surely implementation of some good policy possible, which will take time to give fruits.
No positive changes in economical front rather dipping in recession as per the reports. US unemployment raised and wide expectation of worldwide jobless number to increase, only in some countries as Australia was bit exception with surprising employment report which shows as part time jobs increases. US pending home sales of sept’08 was also down as reports shows on 7th nov’08, can expect lower in oct’08 report also because of worse employment and job cuts. These reports spur some more rate cut expectation.
Sideways movement we have seen this week ended in all Dow jones, gold, silver, copper and USD index also which may continue for another some days which may going to form triangle or rectangle pattern. I am keeping the same view with same levels as of now as per last week until some formation is going to be made, with eyes open on lowered crude oil price which possible targeting $56 and lowered international main food grain prices mainly, like corn, soybean, wheat and some others.
Coming week, we have to observe carefully the reports is coming mainly like trade balance of US, UK, Japan, BOE inflation report, GDP of Germany and EU, jobless claim of US, US retail sales.
No positive changes in economical front rather dipping in recession as per the reports. US unemployment raised and wide expectation of worldwide jobless number to increase, only in some countries as Australia was bit exception with surprising employment report which shows as part time jobs increases. US pending home sales of sept’08 was also down as reports shows on 7th nov’08, can expect lower in oct’08 report also because of worse employment and job cuts. These reports spur some more rate cut expectation.
Sideways movement we have seen this week ended in all Dow jones, gold, silver, copper and USD index also which may continue for another some days which may going to form triangle or rectangle pattern. I am keeping the same view with same levels as of now as per last week until some formation is going to be made, with eyes open on lowered crude oil price which possible targeting $56 and lowered international main food grain prices mainly, like corn, soybean, wheat and some others.
Coming week, we have to observe carefully the reports is coming mainly like trade balance of US, UK, Japan, BOE inflation report, GDP of Germany and EU, jobless claim of US, US retail sales.
________________________________________
________________________________________
No comments:
Post a Comment