Home PEx Business and Careers Personal Investing and Money Management

GREED IS GOOD! : Currencies


Any investment advice originating from this thread are purely my opinion. If you make an investment decision based on the information from this forum, you do so at your own risk. I will not be liable for any losses you may sustain in the investment marketplace.

Should you become an instant millionaire, I will not demand a percentage of your profits. However, I won't mind if you share your experience here in this thread as a testimonial of my GREED IS GOOD!: Currencies


*Readers are strongly advised to contact their professional advisor before entering into any contract to buy or sell any security.


  • Lessons from Tiger
    In case you missed it, Eldrick "Tiger" Woods conquered the US Open last Sunday by shooting a record-breaking 12 under par. A feat deemed next to impossible! Tiger's unanimous success is not a fluke. Woods' dominance can be linked directly to his desire, focus, and hard work. Not by coincidence, the aforementioned attributes are common among the world's top traders. What separates the winners from the losers (In all walks of life) is their drive to succeed. Like Tiger, most successful traders have a vision or a goal. And every trade they place is centered around their long-term goal. Super-traders display focus and
    discipline, and stick to their thoughtful strategies. Above all, successful traders work hard! So whether you combing the annals of Investor's Business Daily, or pouring over stock charts, the amount of hard work you put into your trading is directly correlated with your results. Whether your game is golf or options, if you practice, and learn, and do the right things consistently, you win! And when you win the game of trading, you make money!


  • wow! big time na DAILO
    may iba ibang sectors na yun "GREED IS GOOD" Thread. :)



    Php 42.88 1 USD 28:19 PM GMT

    Yen 104.71 1 USD 21:01 PM GMT

    Euro 0.94 1 USD 28:55 PM GMT
  • RP peso recovers on firmer baht, easing worries

    The Philippine peso (PHP) erased early losses against the U.S. dollar Friday, cheered by the recovery in other regional currencies led by the Thai baht in late trade.

    Concerns over a central bank circular tightening rule on dollar transactions of banks' foreign exchange subsidiaries also subsided. At 0800 GMT, the U.S. dollar/peso ended at PHP42.845 against Thursday's PHP42.870 close.

    The pair rose to a day-peak of PHP42.960 in the early session but simmered down to an intraday low of PHP42.825 in afternoon trade as other regional currencies also gained lost ground against the greenback.

    Total volume at the Philippine Dealing System, however, thinned to U.S. $76 million from $128 million at the previous session.

    At 0841 GMT, the dollar/baht was quoted at 39.02 against 39.20 in early Asian trade.

    Dealers said easing jitters over the new central bank circular on banks' foreign exchange subsidiaries also helped lift the peso from early lows.

    The central bank released Wednesday a circular letter requiring banks' foreign exchange subsidiaries to record all their dollar transactions and state the purpose of all purchases or sales of foreign exchange worth at least $250,000.

    Traders also said the market saw a strong resistance at PHP43.000 amid weak corporate demand for the dollar at the PHP42.900 levels.

    A third trader said the local pair may stoop back to PHP42.700 in the near term, barring any wild gyrations in regional currencies and negative developments at the domestic front.

    Dealers said the market will watch closely the U.S. Federal Reserve meeting June 27-28 and how the central bank will react to any decision on U.S. rates. Central bank Governor Rafael Buenaventura earlier said the monetary authority will likely keep its key overnight rates steady if the Fed will raise its rates by only 25 basis points.

    The central bank's overnight borrowing rate stood at 10.00% and the overnight lending rate pegged at 12.25% since May 19.

  • Originally posted by wAgKaNgMaKuLiT:

    wow! big time na DAILO
    may iba ibang sectors na yun "GREED IS GOOD" Thread. :)




    KuLiT :D we missed you... I also had a thread looking for you...

  • Originally posted by DAILO:

    KuLiT :D we missed you... I also had a thread looking for you...

    -->; thankx! :)
    talaga? where is it?


  • Its somewhere in the forum... no one replied therefore it disappeared fast... :( Im glad youre back :D:D:D

  • Singapore dollar extends early gains

    The Singapore dollar extended gains made in early trades Friday on liquidation of long U.S. dollar positions after U.S. dollar sales by some local banks triggered fears of intervention by the Monetary Authority of Singapore (MAS).

    At 0920 GMT, the U.S./Singapore dollar was bid at 1.7320 compared with 1.7340 overnight in New York and 1.7346 late Thursday.

    In early trades, the U.S./Singapore dollar jumped to a high of 1.7365 backed by talk of big U.S. dollar demand from a local bank -- said to be for a large local corporate -- probably to fund its overseas stake acquisition.

    This early rise was, however, short-lived as local banks sold U.S. dollars prompting other banks to unwind their long U.S. dollar positions.

    Traders said the gains made by the Singapore dollar were also prompted by ideas that the local banks were probably selling U.S. dollars on the directions of the de facto central bank MAS, which is seen usually intervening through local banks to smoothen demand-supply imbalances in the market.

    Earlier this week, the MAS was said to have checked levels at around 1.7350. The unwinding of positions continued in mid-day trades as banks preferred to hold square positions ahead of the weekend amid continuing concerns over developments in Indonesia which were keeping the rupiah volatile.

    Traders expect the Singapore dollar to continue its upward journey and even break through the 1.7300 mark, but resistance above the key level is seen ensuring that such rises are limited.

    Regional currencies, which had turned weaker in early trades, also managed to trim their losses, adding to positive sentiment for the Singapore unit.

    The U.S. dollar/Indonesian rupiah, for instance, trimmed early losses on pre-weekend squaring of long greenback positions. It was bid at 8,665 compared with 8,690 (0233 GMT) and 8,675 late Thursday.

    Traders expect the Singapore dollar to move in a 1.7290-1.7360 range Friday with downside finding support amid fears of central bank intervention.

    Singapore corporates have been in the news for making overseas acquisitions in line with the expansion and regionalization strategies.


    Php 42.84 1 USD 31:27 PM GMT

    Yen 104.68 1 USD 0:54 AM GMT

    Euro 0.94 1 USD 8:54 AM GMT
  • GOOD MORNING MANILA! I hope everyone had a wonderful weekend like I did :D:D:D

    GOOD LUCK in your Trades today!

  • Daiwa in strategic partnership with asiabondportal.com

    asiabondportal.com, an online information and debt instruments dealing facility, claims to have captured a 20 percent market share for Japanese and Asian bonds excluding JGBs, following its alliance with Daiwa SBCM, and hopes that its final grouping of bond dealers will enable it to increase its hold to 30 to 40 percent. Daiwa SBCM will join the group, which includes Deutsche Bank, JP Morgan, Government of Singapore Investment Corporation (GSIC) and Income Partners, the founding shareholder. Daiwa SBCM’s board has given its go-ahead to the partnership whereby Daiwa SBCM will purchase equity in asiabondportal.com. Daiwa will focus on enhancing the yen debt instrument database, help integrate yen credit trading on the site and expand the business in the Japanese domestic market.

    asiabondportal.com, which was formed last year, is a comprehensive Asian bond instrument website that services institutional investors. The website makes it easier for investors to get general news of the financial markets, information on bond prices and enables them to trade Asian debt instruments with the dealers in the system. Dealers are able to service a larger clientele without having to expand their sales force.

    Daiwa SBCM, JP Morgan and Deutsche Bank will be active dealers and content providers, and provide online liquidity for Japanese and Asian debt instruments. A key feature of the site will be its multi-dealer functionality, which will allow fixed income investors to transact with leading market makers that include its strategic partners.

    The trading functionality will initially cover US dollar-denominated bonds, including convertibles.

    Php 42.87 1 USD 10:00 AM GMT

    Yen 104.53 1 USD 2:02 AM GMT

    Euro 0.94 1 USD 10:02 AM GMT
  • EIB issues fixed rate note in Hong Kong dollars

    European Investment Bank (EIB) tapped the Hong Kong dollar market with the issue of HK$500 million five-year, fixed rate notes. With a quarterly coupon at 7.75 percent interest per year and issued at 101.625 percent with redemption at par (100 percent), the notes mature on June 27, 2005.

    HSBC was the lead manager and bookrunner.

    EIB, which provides loan finance for EU member countries, finances itself through capital contributed by member countries and loans at fine rates raised on the international capital markets.
  • Thailand continues recovery

    Despite earlier indications, Moody’s Investor’s Service, signalling further recovery from economic recession has raised Thailand’s sovereign credit rating to investment grade.

    Thailand languished under junk bond status for the past two-and-a-half years following the devaluation of the baht in July 1997; in part triggering the Asian financial crisis. Thailand’s sovereign rating was slashed to Ba1 from A2 before resurfacing at Baa3 on June 22. The outlook for the new rating was stable.

    Although still four notches below the July 1997 level, Thailand is now rated the same as Malaysia and just below South Korea. The markets reacted positively as the Stock Exchange of Thailand rose 2.2 percent and the baht strengthened slightly. Spreads on Thai sovereign issues narrowed 10 to 15 basis points.

    The government reported that the economy expanded 5.2 percent from the first quarter last year, the fifth consecutive quarter of expansion. The Thai economy plummeted 10.2 percent in 1998.
  • Korea … win for the won

    South Korea has announced plans to issue a total of W8 trillion ($2.7 billion) in state bonds in 2000 to help underpin the South Korean currency.

    South Korea issued W5 trillion in 1999 of foreign exchange stabilisation bonds to aid the overall control of the dollar-won exchange rate. An expected increase in dollar supply in 2000, from increased foreign investment amongst other things, could mean dollar-won fluctuation.

    By issuing an additional W3 trillion bonds, the government has an increased ability to purchase a commensurate amount of US dollars in the open market and possess the means to support the won in turbulent times.

    The plan will be submitted to the national assembly in an extraordinary session in July.
  • Hong Kong heavyweights in the ring

    Mass Transit Railway (MTRC) and Cheung Kong both stepped into the Hong Kong dollar ring this week to tap investors.

    MTRC issued HK$150 million ($19.26 million) four-year notes through HSBC. The notes carry a 7.48 percent coupon due June 28, 2004.

    Cheung Kong issued HK$500 million three-year notes through Societe Generale Asia. The notes carry a 7.35 percent coupon due July 3, 2003.
  • Credit derivatives – Qantas widens, Lend Lease narrows

    Traders report no shortage of prices quoted in credit default swaps on Australian names this week. One improving credit is Lend Lease. Five-year credit default swaps on Lend Lease are quoted by brokers at 55/64, according to SG Australia. ANZ Investment Bank says, in the previous week, offers on that swap moved in to 66 from 70 basis points.

    However, prices for Qantas are moving in the opposite direction. Jason Cavanagh, a senior manager at Westpac Institutional Bank, says five-year Qantas swaps widened another five basis points to end trading on June 22 at 72.5 basis points. One-year credit protection on Qantas started the week offered at 30 basis points, says ANZ Investment Bank. It is currently offered at 33 basis points.

    Traders say that there were no transactions reported through the brokers. However, one bank, with a tendency to deal directly with clients, managed to execute a few trades.

    Cavanagh says, in general, credit protection for names in the telecommunications sector is well bid for in anticipation of a jumbo bond issue by Deutsche Telekom. The German telco is preparing to raise $8 billion in a multi-tranche offering. He says 10-year Telstra swaps are consolidating at their new wider level, with a midpoint of 65 basis points.

    One-year Cable & Wireless Optus protection widened from 33 to 35 basis points on the offer, with a 27 basis point bid disappearing without trading, says SG Australia. Brokers are quoting five-year Cable & Wireless Optus at 65/75.

    Ph Peso 42.890

    Yen 104.35

    HK Dollar 7.7910

    Indonesia Rupiah 8,675

    Thailand Baht 39.090

    SG Dollar 1.7326

    1 TW Dollar 30.798

    Korea Won 1,117.6

    1 Malaysian Ringgit 3.7998

    Euro 1.0735

    UK Pound 0.667

    As of 7:32 AM GMT

  • RP peso dips early on central bank's move

    Manila, June 26, 1:46p -- The Philippine peso (PHP) weakened slightly against the U.S. dollar in early trade Monday after the central bank implemented a 3-tier pricing scheme in its overnight borrowing facility.

    The scheme effectively reduced the rate to an average 8.5% from the fixed 10.0% in the past five weeks, traders said. At 0231 GMT, the U.S. dollar/peso averaged PHP42.893 against Friday's PHP42.845 close.

    The pair rose to an early high of PHP42.905 after opening at PHP42.900 but eventually leveled to an early low of PHP42.870 amid a modest turnover of U.S. $33 million.

    The central bank effectively cut its overnight borrowing rate so that has an effect on the exchange rate. I see the peso a little weaker today compared to Friday's close.

    The central bank implemented earlier Monday a three-tier pricing scheme for its overnight borrowings, with the first five billion Philippine pesos (PHP) (U.S. $116.57 million) in placements still to be paid 10.0% but the next five to PHP10 billion to be paid 8.5% and those beyond PHP10 billion to be paid 7.0%.

    The central bank's overnight lending rate was maintained at 12.25%. Central bank deputy Governor Amando Tetangco, Jr. said the tiering scheme should encourage banks to also lend to the private sector.

    Traders said there were also renewed jitters over the security situation with the bombings in General Santos City at southern Philippines over the weekend.

    Regional currencies were also slightly weaker against the U.S. dollar in early Asian trade, with the Thai baht seen quoted at 39.08 against 39.07 late Friday.

    "I think the peso's slide to the PHP42.900 levels this morning is a reflection of these three factors -- the central bank cut in its overnight borrowing rate, the bombings in General Santos City and the dollar/baht is also slightly higher," dealers said.

    But dealers said the dollar's rise against the peso may be capped at PHP42.950 due to weak corporate demand for the greenback at this level. A third trader said the dollar/peso enjoys good support at the PHP42.850 level.

    GOOD LUCK in your Trades today!

Sign In or Register to comment.