Gafkay at LEOM

Even as the yen trades at more than five-year
lows, analysts expect a resurgence of the carry
trade will keep Japan's currency on a downtrend
well into 2014.
"We're going to see a resurgence of the carry
trade," Todd Elmer, currency strategist at
Citigroup, told CNBC. "It's not going to explode like
a volcano, but we do think it's going to come
back," he said.
A carry trade is when investors borrow in a low
yielding currency, such as the yen, to fund
investments in higher yielding assets somewhere
else. A weakening currency is central to the carry
trade since it means that investors have less to
repay when they cash out of the trade.
The so-called yen carry trade was popular in
2004-2008, with the yen weakening about 20
percent against the dollar over that period, but
the global financial crisis sapped demand for risk
assets and sent investors scurrying into safe
havens.
In recent years, the trade has been less popular as
monetary easing in the U.S. and Europe kept
interest rates for banks artificially low, increasing
the appeal of using the dollar and the euro instead
of the yen.
"Our expectation for money to flow out of the U.S.
and to flow out of Japan is really more a function
of the fact that policy is not going to be getting
much tighter anytime soon," Elmer said.
Kiyoshi Ota | Bloomberg | Getty Images
Although the Federal Reserve decided earlier this
month to taper its monthly $85 billion a month in
asset purchases to $75 billion starting in January,
analysts don't expect an interest rate increase
anytime soon. The Bank of Japan also embarked
on a huge quantitative easing program in April
and analysts don't expect that to be unwound for
quite some time.
"The Fed is really winning the battle in terms of
convincing the market that the move towards
taper does not signal higher interest rates anytime
soon," Elmer said.
Kathy Lien, Managing Director of FX Strategy at
BK Asset Management, thinks Japan's
consumption tax and an unwinding of short-yen
positions could hurt the dollar-yen trade next year.
But he added, "The big question confronting the
market at this point is whether or not U.S. growth
will be spectacular enough to drive a further
portfolio reweighting in favor of U.S. assets." A
surge in funds into U.S. assets would likely push
up the U.S. dollar, and make carry trades using
the greenback unprofitable.
Elmer said he doesn't expect this to happen in
2014, although he noted the development of U.S.
natural resources, such as shale gas, may attract
funds.
Others also expect the carry trade to keep the yen
weak, but they see risks.
"While I am bullish all of the carry trades in the
first quarter, there's scope for a steep reversal in
the second quarter, especially since we have a
significant amount of short yen positions in the
books right now and there's going to be a lot of
unwinds once we get a reason for people to bail
out of their short yen trades," Kathy Lien,
managing director of forex strategy at BK Asset
Management, told CNBC.
The U.S. dollar is fetching around 105.37 yen, the
greenback's highest since October 2008, while the
euro is also around more than five-year highs
against the Japanese currency, at 144.84 yen.
She expects the planned increase of Japan's
consumption tax to 8 percent from 5 percent, set
for April, will increase risks for the short-yen trade.
"In the first quarter, we'll see strength on carry
trades. In the second quarter, probably quite a bit
of weakness -- maybe 8-10 percent lower -- and
then in the third quarter, hopefully the Bank of
Japan will swoop in and ride in like a white knight
with some additional stimulus to stabilize the
economy as well as the currency."
In a note, she said she expects the U.S. dollar to
strengthen to 107 yen in the first quarter, and
after correcting in the second quarter, she
forecasts a rise about 108 and possibly 110 if the
likely economic slowdown after the April tax hike is
met with more Bank of Japan asset purchases and
a corporate tax cut.

Expectations that the Federal Reserve would taper
its asset-purchase program sent many currencies
on a rollercoaster ride this year, and according to
analysts, the pain isn't over yet.
Mitul Kotecha, head of global markets research
Asia at Credit Agricole bank, says higher U.S.
yields, relative growth outperformance and higher
capital flows back into the world's largest economy
will all help boost the greenback in 2014.
"We believe the currency [dollar] will strengthen
broadly against a lot of major currencies and a lot
of emerging market currencies. The key is which
currencies will suffer the most in 2014 on the
back of a stronger U.S. dollar," he told CNBC Asia's
Cash Flow on Monday.
Kotecha singled out the Japanese yen, which has
lost nearly 20 percent against the dollar this year
and the euro, which has strengthened 3.7 percent
against the dollar over the same period, as the
major currencies likely to fare worst amid dollar
strength.
"It will be a difficult year for the yen. Dollar-yen will
get to 115 by the end of 2014," he said. "We also
think the underlying support for the euro will
begin to fade next year, potentially getting down
to 1.28 (euro-dollar) by the end of 2014," he
added.
Yen weakness has been a key theme of 2013 as
policy makers have embarked on an easing-heavy
reform plan designed to overhaul the economy.
The euro, meanwhile, has risen in recent months
on the back of expectations of a pickup in growth
after the region emerged from recession earlier in
the year.
The euro-dollar traded at 1.3694 in early trade in
Asia on Tuesday, while the dollar-yen traded at
104.20.
Other currency analysts also suggested the euro is
set for pain next year.
According to Westpac bank analysts, euro zone
growth momentum is set to slip against the U.S.'s
in the first quarter, which will increase the
likelihood of the European central bank being
forced to loosen monetary policy at the same time
as Fed tapers its quantitative easing program.
"This should see the euro-dollar fall substantially,"
said Sean Callow, senior currency strategist at
Westpac Global Markets Strategy Group.
Meanwhile Chris Weston, chief market strategist at
IG Markets also said he saw the euro-dollar
weakening to 1.28 by the end of 2014.
"The biggest thing for me is the political issues. In
May, there will be the European parliament
elections coming through... I think political
uprisings in favor of more anti-E.U. parties are
gaining more traction, especially with
unemployment at 12 percent. They [the euro
zone] need a weaker currency for competitive
reasons and that's why I'm more negative on the
euro than the U.S. dollar," he added.
Meanwhile, the currencies set for the worst
declines against the dollar would be the same
ones that suffered sharp selloffs earlier in the year,
according to Credit Agricole's Kotecha, when
tapering panic spurred a mass exodus from riskier
assets.
"I think the currencies we will see suffer, because
of capital outflows and external vulnerabilities, are
the Indian rupee, the Indonesian rupiah, the
Turkish lira, the South African rand and the
Brazilian real. These are all in the categories that
we will see the worst performance next year," he
said.
Westpac also said it forecast North East Asian
currencies, like the Taiwan dollar and the Chinese
yuan, to outperform South East Asian currencies.
"North East Asia economies have strong current
account positions and large FX reserves, which
should present a strong firewall against the
tapering theme and potential capital outflows,"
said Jonathan Cavenagh, Westpac's senior
currency strategist analyst.
But IG Markets' Weston said he did not see
emerging market currency pain being as extreme
next year.
"There still will be weakness coming through for
countries running sizable deficits that haven't
addressed them enough. But I think the
liquidation issue has been abated and I don't
expect to see the same kind of volatility as we saw
earlier this year," he added.
Yesterday at 9:34am

The top 12 lessons we learned last Wednesday were:

1, The Taper was only symbolic – $10 bln, split between Treasuries and mortgage bond.
2, Expect the Fed to stick to gradual moves unless it growth picks up enough to inspire so much optimism that it feels it can pick up the pace without scaring markets
3, Also expect it to continue emphasizing that it can slow, stop, or if need be reverse course, depending on the need, based on economic data. That should minimize interest rates rising in anticipation of assumed further tapers, especially if economy shows weakness.
4, The Fed changed its forward guidance – Low rates to continue long after unemployment rate drops below 6.5%” (as long as inflation doesn’t rise much beyond the Fed’s 2% threshold, and even then, only if the economy looks strong enough to handle higher rates).
5, Bernanke emphasizes accommodative stance, stresses that purchases will continue at rapid rate even after taper (there are other bond buying programs besides QE).
6, Bernanke anticipates the FOMC will taper QE by $10 bln at each meeting, ending sometime in late 2014 assuming the economy keeps improving and no deflation threat.
7, Fed says any further tapering to continue to be data dependent, so it leaves itself the option to continue if needed.
8, The decision was NOT unanimous – Rosengren voted to keep asset purchases unchanged
9, Most Fed officials don’t see any rate hike until some point in 2015
10, Low inflation is a concern, the Fed now sees PCE at 1.4%-1.6% in 2014
11, Fed upgrades economic outlook even as it maintains loose monetary policy: ups GDP forecasts, sees faster decrease in jobless rate, forecasts it falling to 6.3%-6.6% before 2015.
12, Even Janet Yellen voted to taper

Traders pick your fact from here and take the right decision at the right time. Its all about picking pips on a factual ground!

S&P had spotted some highlights for the U.S., noting that modest gains in employment and a continuing recovery in the housing market were bolstering consumer sentiment and spending. Furthermore, it said that "resilience" inthe private sector was "outweighing the drag from sequestration-relatedcuts in government spending and that Americans' purchasing power wasimproving. Nonetheless, these were not enough to prevent it lowering its growth outlook.

S&P noted that uncertainty about when the Federal Reserve would taper its bond-buying program -- and the reaction of global financial markets -- was also adding to headwinds facing global economies.

(Read more: No respect! Traders unimpressed by 'boring' S&P trade)

"A disorderly response from financial markets to the Fed's unwinding of quantitative easing remains a shared and important risk for credit conditions around the world," S&P warned. It added, however, that low inflation in the country meant that the fed was likely to "gradually taper bond purchases and to keep monetary policy accommodative through 2014."

"We anticipate overall financial conditions will remain favorable for some time," the report said.

I am wandering WHY?
We keep blaming the sytem
Even at our age and generation,we keep living on hope.
We rely so much on our certificate.
We keep beleiving that until we work so hard and sweat before we can make legitimate money.
We are so scared of taking a shot at any opportunity presented to us.
We keep doing what does not guarantee our retirement till kingdom come.
We'll still like to make thesame mistake that Our parents made.
We don't want to start thinking outside the box and try things differently for once.
We don't want to go through little pains today and then enjoy tomorrow.
Only in this world,we're too scared of leaving our comfort zones.
We hesitate for too long in taking steps that could turn around the fortunes of our generation for life.
Take advantage of what LEOM concept is offering you today and you will be guaranteed the financial freedom you have ever craved for.
LEOM.....Giving The Best!

I spent hours surfing the internet.Guess what I was looking for?I was trying to see if there's any organisation on this planet that trains people on a unique ways of making daily legitimate income online and also pay you weekly for telling people to come and join you in what you are enjoying.Honestly,I didn't find any except LEOM.
LEOM ......Giving the Best!

MAXIMUM PROFIT ACADEMY

In this fast changing and growing world, it is expedient for everyone to work on back up, not living their life like someone that doesn’t understand it. The point we (LEOM) are trying to make is those that depend on one source of income are living their life with limited understanding because it is clear today that anyone that is standing on a source of income, is like a bird that is standing on a rope which doesn’t have rest of mind and may never have. Under our nose in this present economy, we have seen companies that sack people; gives compulsory retirement to their employees without any gratuity and some are not paying enough salary to their staffs. Please Note: Is not the fault of those companies that are sacking, retiring and paying less to staffs, they are only dancing to the music the economy of today is playing to stay in business.

Looking at the facts above and many more that present themselves to us every day, we have made up our mind to give a helping hand to as many people that comes our way through a well-tailored life time mentoring program which will help people leverage on the power of the internet to profit from the world financial market, network marketing and others.

Most importantly the academy is aimed at helping people to build multiple streams of income through the trading of Stock, Options, Forex, Future, networking and others.

The name of the company is LEOM
Meaning Lets Enjoy Online Marketing
They focused on 2 major things viz: Network marketing and Training
as a member, you are qualified to participate in the two or if you prefer to stick with one there is no problem.
Whichever one you are doing, what is important is that you continue to earn your income.
Let’s talk about the Network Marketing
their marketing plans is very unique and totally different from that of other Multilevel marketing business(MLM) you have ever come across
At LEOM you are not to sell any product, neither will you mandated to meet up with certain Point Value (PV) monthly as it is done in other MLM in order to start earning. Also, you do not need to have any level balancing before you earn.
Level balancing will be explained later on.
To be involved in the Networking Business, there are 3 types of package viz:
SUPER PACK for $60 ( ₦10,200)
MASTER PACK for $220 (₦35,800)
ELITE PACK for $1,250 (₦200,800)
In terms of naira you will notice an additional 600 naira on each package, those are meant for administration fees and souvenirs.
The first step to take is to register in any of the 3 packages. This depends on your financial capability and how ambitious you are.
Remember the higher the package, the higher your earnings. You can start with the lowest package and later upgrade/migrate to higher packages at your own convenient time.
Migration to higher package will only require you to pay the difference instead of paying the full money.
Lets assume you register with Super Pack.
First you will automatically be given your own customized website which will carry your sign up username
For instance if you register through me, that means I am your sponsor/Upline and you will have to register online through the website www.leomconnect.net/gafkay1
Where gafkay1 is my username and you become my direct downline after registration.
Your first job is to start introducing more people. Which means you are now a business owner and you want to start building your own empire (team)
Ordinarily ,LEOM expect you to introduce 5 direct downlines but unlike most of other Network marketing Business (MLM), you are not expected to get the 5people complete before you start earning. Your first 5 persons is your level 1 and completing the 5 means the level is balanced which means number of persons in your level 1 is 51
As soon as you register your first downline, you will immediately be paid $12
The money is $10 for FAST START BONUS (money you get for every direct downline you introduce)
And $2 for UNILEVEL MATRIX COMMISSION (additional money you get for every member either directly from you or indirectly from you in each level)
Making a total of $12 and this will be paid in less than a week after the person register. Commissions are usually paid weekly, specifically every Monday money.
As you register more people, you continue to get your $12 on each downline which means when you complete your 5 people in level 1, you would have earned $12 in 5 places making it a total of $60.What does this implies? You have your initial capital returned to you. Which means every other penny you get from your team is a profit.
All you need to do is to encourage all your downlines to replicate what you have done and your earnings continue.
Assume all your five downlines did exactly what you did, all the people in their downlines are your level 2 and you get $3 from every one of them. The total number of people in level 1 will be 52=25
Which means you will have $3 multiply by 25 = $75
Level 3 = 53 downlines = 125 people
$3 multiply by 125 = $375
Level 4= 54 downlines = 625 people
$4 multiply by 625= $2,500
Level 5 = 55 downlines = 3125 people
$4 multiply by 3125 = $12500
Level 6 = 56=15625 people
$6 multiply by 15625 = $93750
Level 7 = 57 downlines = 78125 people
$6 multiply by 78125 = $ 468750
After level 7 is balanced, you would have accumulated a total sum of $577,950 .All in US dollars. This is equivalent to ₦92,472,000 (92.4 million naira)
The above may take longer or shorter time to achieve depending on how much effort you put into your team/network .which means your success in this business lies majorly in your hand.
But experience has shown that no matter how slow or poor your team is, you can still achieve that in 5 years. The Question is: Making 92 million naira in 5 years, is it a good business or bad one?
The above is an ideal way of doing the business if everything goes on as smoothly as we want but we all know that everything in life is not smooth.
REALITY
Case 1:
It is possible that you are not able to get the 5 complete on time.May be you are only able to introduce 3 people at first. As long as the 3 downlines you have are working, you will continue to get the commissions you deserve from each level as they are bringing people into your Network. Once again, remember that nothing else is expected from you than to refer people and get paid immediately
Case ii
You have Registered five people but only 2 downlines are working and the rest of the three are yet to have downlines or they are lazy.
The good news is that you don’t have to rely on them to build your team as fast as you want it.
All you need to do is to keep introducing more direct downlines despite that you have completed the required 5.
This is the Unique thing about LEOM. There is no limit to the number of persons you can personally introduce. You introduce more people and you get more paid.
Lets say you have access to 20 people which means you still have extra 15 people outside the 5 people you personally introduced. In LEOM, anybody you bring outside the 5 people are referred to as ‘spill over’
And you get $10 FSB (fast start bonus) on every spill over from you.
And they will be automatically placed where there are spaces in in your direct or indirect downlines. In addition to the FSB,you also get a UMC ( unilevel Matrix Commission ) you deserve on them on what ever level they are eventually placed.
This means if you want your team to grow fast, just keep introducing people as much as you can without limit.
It is to be noted that any of your downlines who benefited from such spill over will not be entitled to FSB on the new member but will only get UMC on them

http://www.leomconnect.net/gafkay1