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...
The European Commission stated that the EU will contract for a second year in a row in 2013, with the Eurozone economy expected to contract by 0.3% this year while unemployment will rise to 12.2%. Just in November of 2012 the European Commission predicted a 0.1% growth rate for the Eurozone and unemployment at 11.8%. This is just the latest sign that the situation continues to worsen and that there is no light at the end of the tunnel right now. Constant high unemployment will drag down the economy in 2014 and 2015 as well while the...
The short answer is it should not have an impact at all. Italians headed to the polls and while the socialists won by a slim majority thanks to an election law dating back to the Byzantine empire they will not be able to govern the country without a coalition partner. Silvio Berlusconi and his capitalist party launched a massive comeback and is now the single biggest party in parliament while the party of comedian-turned politician Beppe Grillo played big spoiler and vowed not to join any coalition. The German puppet government lead by...
