The Commerce Department reported that U.S. fourth-quarter GDP contracted by 0.1%, way below forecasts of a 1.0% increase. This is a sharp and fast deterioration from the third-quarter which saw GDP expand by 3.1% and marks the first contraction since the second-quarter of 2009.Of course economists brush of the negative figures and stamp them as meaningless, but if the figures would have been positive they would have labeled them as very significant. The contraction came despite an increase in consumer spending which rose 2.2% which shows...
The British Pound Sterling has collapsed after it reached its intra-day high of 1.6338 on January 2nd 2013. Today the GBP has reached an intra-day low of 1.5132. The drop has been much more violent than those analysts who called for a collapse of the British currency at the beginning of the year. We believe that by the end of 2013 the GBP will have outperformed other major currencies. The collapse spanned 1,206 pips from intra-day high to intra-day low in only seven weeks which rivals the depreciation of the Japanese Yen which reached an...
“I love my career and am always learning more about trading. I felt my passion for the industry and harnessed it with full commitment.” - Chris Cashman Sam Seiden, a trading genius, started his trading career on the floor of the Chicago Mercantile Exchange. Since 1991, he’s been involved in various types of financial markets. Currently, he’s the Vice president of Education at Online Trading Academy. Local and international students now tap from his decades of trading experience. He’s a fund manager and a...
Cypriot lawmakers rejected the forced depositor’s participation into the required financial bailout of Cyprus. The initial time of the vote was Monday at 1500 hours which was canceled as President Anastasiades amended the terms in order to legally steal less from deposits below €100,000 while stealing much more from deposits above €100,000. Initially it was reported that Anastasiades had the minimum required votes of 29 in order to make the proposal a law. The initial agreement was reached this past weekend and forex markets...
“Now, if a trade moves against me, I’m out.” – Charles Kirk Many big and small financial institutions have collapsed – not just the only 2 that are mentioned in this article. However, the 2 institutions that are mentioned here are known to most well-informed fundamental analysts, especially those who also research past events in the financial world. Those 2 institutions didn’t collapse recently: they did years ago, but there are great lessons traders, investors and funds managers can learn from their sad...
