Fred continues to argue that the risk for Asia is a mere cyclical dip, not a financial crisis and Fred’s “chart of the week” shows that savings still have a healthy buffer over investment.
HSBCs latest GDP, CPI and FX forecasts for the region are on p.4 (Worth a glance).
FX: For end of 2011 we see AUD at 0.95, USDCNY 6.35, USDJPY 85, MYR 2.88, PHP 41.00, SGD 1.23
Click here to read the full report:
http://www.easyforexnews.net/wp-content/uploads/2011/09/asias-buffer-fred-neumann-8th-sept-2011.pdf
HSBC Global Research