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Thomas MacLeod's  Instablog

I am an individual investor managing my retirement funds and investment funds of other high net worth individuals from Queenstown New Zealand. I recently retired from a merchant bank in New York where I ran a macro proprietary trading portfolio for 10 years where I achieved a compound 30% return... More
My business:
Glenorchy Capital
  • Emerging Market Currencies Lead the Bull's Stampede 0 comments
    Jul 28, 2009 07:57 AM | about stocks: USD, FXA, EWZ, XRU, ICN, CEW

    Emerging market currencies. Our 15 years of currency and bond trading experience tells us that much can be gleaned about the the sentiment of world financial markets from these.

    Over the last week or so new highs have been reached by several emerging market currencies against both the USD and Euro. We view this evidence of the large players pricing in higher than expected world growth, commodity prices, and we would guess inflation.

    This is a clearly identifiable trend supported by emerging market bond markets.

    Our view is that there is a significant and tradable trend in motion.

    USD Turkish Lira Spot

     

    USD Russian Ruble Spot

     

    USD Indian Rupee Spot

     

    USD Brazilian Real Spot

     

    Disclosure: Long CEW, BZF


    Themes: Emerging Market Currencies, USD Stocks: USD, FXA, EWZ, XRU, ICN, CEW
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