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Forex Fundamental Analysis
Forex Fundamental Analysis
Global markets and Sterling have recovered some of their losses upon the UK decision to leave the EU. In some quarters, this has been taken as a sign that things will not be as bad as people have feared, but they are wrong.
It seems unthinkable that following the largest democratic exercise in British history, the expressed wish of the people – that Britain leave the European Union – may not come to be. Yet, nobody can say with complete certainty that Britain will not remain a member of the European Union. Here are the reasons why.
Out of the financial mayhem of Brexit, it is gold that comes out as the winner. The yellow metal was up again Monday following a nearly 5 percent surge on Friday and racking up advances of more than 25% this year.
Not yet a week has passed since the electorate of the UK narrowly voted in favour of leaving the EU. It is less than clear that they knew exactly what they were hoping to leave or why.
Even before the results of the Brexit referendum were announced, the price of oil was falling in most countries. A report from the U.S. Energy Information Administration (EIA) in mid-June indicated that OPEC lost $349 billion in revenue last year because of low oil prices, cutting revenues almost in half from the year before.
Last week the fears of many were realised when the UK voted to leave the EU. Major markets fell and the Pound tanked, as any rational person would have expected.
The surprise vote in favor of an exit from the European Union has sent markets around the world into a state of turmoil and the pound has dropped to a low not seen in over 30 years.
43 years of being able to blame “Brussels” for virtually every perceived wrong in UK life is coming to an end. The UK has voted to leave the European Union, the world’s largest and most successful trading bloc, and stand alone.
Whilst approximately 46.5 million registered UK voters determine if the nation will remain in the EU or take a step into the dark and leave, other weighty decisions are being made on the continent.
The ripple effects of global jitters around Brexit has reached around the world and as far as New Zealand.
As the UK prepares to vote on Thursday in an historic referendum which could have repercussions far from its own shores, a final “Great Debate” on the subject was televised last night.
The Securities and Exchange Commission has just approved an application by a startup called IEX (Investors Exchange) to become a full-fledged stock exchange.
The Bank of England is independent of government control and has a remit to deliver low inflation, ensure price stability and support government economic objectives for growth and employment in order to support sustainable economic growth.
Last week saw all the major markets losing ground again mainly on worries over the fallout from a potential “Brexit”. Get the fundamental analysis for the week of June 20, 2016 here.
On Thursday 23rd June, the United Kingdom holds a referendum on the question of whether it should leave the European Union. Strange but true: the vote is not legally binding, and would simply advise the British Parliament to begin negotiating an exit with the E.U. which would probably take some years.