fanno i fighi...quelli che sanno..eppure dove stanno le previsioni CHIARE sul 2014???
io non ne vedo..anche in USA
Previsioni 2014: articoli e notizie - Soldionline.it
LONDON (MarketWatch) — From a stock market and currency point of view, the year now drawing to a close has been much more benign than many had forecast.
World stock markets were buoyant. The euro /quotes/zigman/4867933/realtime/sampled
EURUSD -0.81% (up 5% on a trade-weighted basis) finished on a surprisingly firm note against an otherwise generally strong dollar /quotes/zigman/1652083/realtime
DXY +0.55% . The emerging markets, after a mid-year wobble, recovered some of their poise. With the possible exception of the U.S., optimism on international stock markets has run ahead of reality. The euro crisis has gone into remission.
However, with the U.S. toning down its monetary stimulus and tensions likely to return to the single currency area in 2014, the next 12 months should see a more sobering state of affairs. Here are eight predictions as the New Year curtain rises across the world’s main economic and monetary theaters.
1. Japanese Prime Minister Shinzo Abe will see his dreams fulfilled of an end to deflation. But the sought-after growth fillip and move back to 2% inflation will be accompanied by an accelerating decline in the yen /quotes/zigman/19452686/realtime/sampled
JPYUSD -.00% that may make the Japanese authorities alarmed about the risks of overshooting.
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As the Bank of Japan ploughs on with its extraordinary asset purchases aimed at doubling the monetary base in two years, the Japanese currency will look as though it’s heading toward 110 to the dollar — prompting higher Japanese bond-market interest rates (despite the BoJ’s quantitative easing) as well as possible Ministry of Finance yen-defense intervention to sell dollars if the rise in inflation is judged “too far, too fast.”
Watch out for foreign central banks moving to buy yen at lower levels once interest rates start to normalize, accompanied by a fresh round of Tokyo efforts (no doubt prompted partly by competition with the internationalizing renminbi) to boost the yen’s international use.
2. The euro area will have another poor year. The fundamental imbalances that have dogged the euro area will show little improvement.
European growth will remain weighed down by the inability of politicians in creditor and debtor countries to sink their differences and move to a fully fledged federal system where the stronger countries shoulder the burdens of the weaker ones, for example in a genuine banking union.
The unexpected strength of the euro in 2013 has been a function of the extreme de facto restrictiveness of the European Central Bank’s monetary policies. Year-on-year euro-area broad money growth is now only 1.4% on the latest figures, slowing progressively during the year, and credit to non-financial corporations is falling in most euro-member countries. All this adds to deflationary pressures.
We are unlikely to see any self-sustaining euro-area recovery in 2014. The euro’s current run of relative strength will not last beyond mid-year, and could peter out a lot sooner.
3. President Barack Obama will wonder why he ever toyed with making Lawrence Summers chairman of the Federal Reserve Board as Janet Yellen moves seamlessly into the job from Feb. 1. U.S. growth will move into the higher end of the 2%-3% range and could well surprise on the upside.
Falling unemployment should allow the Fed to rein back its monthly asset purchases to zero by the end of 2014. The bad news is that Treasury bond yields will move towards 4%, further boosting the dollar against all currencies, especially the euro — and damaging U.S. firms’ competitiveness.
A strong dollar, a strengthening recovery, manageable inflation and a still-buoyant stock market will bathe Yellen in a golden honeymoon glow. If he is lucky, some of this will shine on Obama too.
4. Antonis Samaras, the Greek prime minister, will play an awkward role, poised between statesman and spoiler. With public-sector debt at 177% of gross domestic product, Greece takes on the six-month presidency of the European Union on Jan. 1. On June 30 it hands over to Italy, the EU member with the second highest government debt-to-GDP ratio (133%).