Peter Mill forecasts for 2009 in interview for Liv

Peter Mill forecasts for 2009 in interview for

Peter Mill is one of the top forex expert’s chief of with more than 10-years experience in forex trading. He was invited by to make his forecasts for 2009 and describe 2008. Monica O’Neil: Dear Peter how can you describe the passed 2008? Peter Mill: Well the year 2008 will be memory for all investors with the start of world economic recession. The key trading levels like the bottom of dollar against the euro above 1.60 and pound up to 2.12. At the same time the oil and gold prices jump to record levels. These extremely dangerous movements cause the recession because many investors prefer panic investments in real estates and commodities. The balloon was cause by Federal Reserve couple of years earlier when the interest rates was at 1.00% and follow fast jump of interest rates in 2005-2007. Then most of the people were difficult by the high interest rates that cause massive sales of real estates. Monica O’Neil: Who is responsible for the recession? Peter Mill: The recession came by the panic, as the panic was caused by United States, and in details the politic of United States starting by Alan Greenspan. But the main responsible for the world economic recession are George Bush and Ben Bernanke politics. The second level responsible for the world economic recession are the top managers of world financial institutions like the banks which most of them bankruptcy or were nationalize. Monica O’Neil: In a period of recession what do you advice the traders, investors and people to do? Peter Mill: After every recession come period of growth. After the end of recession we will see recovery of the traders interest and investments especially in the forex and commodity markets. The massive injections with fresh funds will end with inflation. I expect too much free money that will start investing again in goods, real estates and trading on the bourses. Monica O’Neil: What are your forecasts for 2009? Peter Mill: In 2009 we expect strong movements on the bourses. EURUSD probably will fall to levels of 0.98/1.02, as the Fed will raise the interest rates to the end of 2009 to 1.00%. The yen will continue to rise as is expecting Bank of Japan interventions. The pound will continue to lose to levels GBPUSD of 1.20. The recession comes in whole Europe. May be in 2009 will be dominant by recession and far at the end of 2009 even 2010 I expect the end of the recession. The oil may fall to $30 but at the end of 2009 will be trading at $80. The Gold will remain stable with prices of $650-$950. At the end of our interview I want to wish to all traders and investors in 2009 carefully trading and much more discipline. Carefully analyses and discipline are the key to the success. Monica O’Neil: Thank you very much Peter. Monica O’Neil phone interview with Peter Mill forex expert of on 1st of January 2009.

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