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Forex Flash: Growth expectations in jeopardy – UBS

By FXstreet.com,  January 08, 2013, 06:28:00 AM EDT

FXstreet.com (Barcelona) - Risk was fast out of the blocks on Monday, but ultimately there was a failure to consolidate as investors acknowledged that positive drivers were somewhat lacking. Press reports on regulatory developments were initially positive for financial stocks, however this failed to translate into broader gains. According to Research Analyst Gareth Berry at UBS, "Regardless of how investors feel about pro-cyclical regulations, in many parts of the world, even in G10, leverage is either excessive or falling too quickly and damaging growth expectations."

Unfortunately, the biggest economies suffer more from the latter ailment, which will drag the overall outlook for global growth for some time to come. Nonetheless, the data calendar is expected to pick up a bit over the coming days and allow markets to seek fresh catalysts for upside, especially as event risk is limited. German factory orders and will release minutes from the last policy meeting.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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