Axel Merk News
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The Australian and New Zealand dollars fell against most of their major counterparts after a report signaled manufacturing slowed more than estimated in China, the biggest trading partner of both nations.
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When former Federal Reserve Chairman Alan Greenspan was set to retire, his final appearance in 2005 at the Fed’s annual symposium in Jackson Hole, Wyoming, became a celebration of his legacy.
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Merk Investments LLC cut the euro position of its Hard Currency Fund to 14 percent, the lowest in the fund’s six-year history, citing the need for more banking system support in Europe amid the region’s crisis.
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European Central Bank President Mario Draghi, embracing policies dismissed by his predecessor, is forcing euro bears to capitulate.
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The euro may exceed $1.40 “well before” the end of 2013 as the European Central Bank shrinks its balance sheet while other central banks expand theirs, according to Axel Merk of Merk Investments LLC.
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Investors turning bullish on China are buying record amounts of structured notes tied to the yuan as the country recovers from a two-year economic slowdown.
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As nervous investors flee the euro and other currencies for the relative safety of the greenback, it's tough to be a dollar bear. Axel Merk, who has been managing money for currency and gold investors since 1994, isn't about to change his downbeat view on the dollar, though. It's a view that, combined with a liking for gold, has benefited shareholders in his Merk Hard Currency Fund, which aims to profit from a rise in hard currencies against the U.S. dollar. (The "hard" refers to stable currencies from nations with economic and political resilience -- so, generally developed nation currencies.)
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The Australian and New Zealand dollars, this year’s best-performing currencies among developed economies, are reducing their links with stocks and commodities as investors search for faster growth and higher interest rates.
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What books have high-profile readers been enjoying this year?
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The turmoil in the euro zone from the Greek debt crisis won’t spur appreciation of the dollar because of Federal Reserve policy, according to Axel Merk, president and chief investment officer at Merk Investments LLC.
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