Forex Fundamental Analysis

Last week was a mixed affair for the world’s major markets as investors cogitated a surprise UK election and the ramifications of the French presidential election.

Mrs May triggered notification of the UK’s intention to leave the EU, under article 50 of the Lisbon Treaty, on 29th March and has proclaimed that the UK is on an irreversible course out of the EU.

Let the games commence. By a resounding majority of 522 to 13 votes, parliament surpassed the two thirds majority required to allow the PM to call a general election under the fixed parliaments act.

After the shock Brexit referendum outcome, the British Prime Minister, David Cameron, resigned.

According to the government, the major driver in persuading British voters to support Brexit was the desire to curb immigration to the UK.

Last week was a negative affair for the world’s major markets with all slipping over the previous week’s close.

The payment of the next tranche of funding under the third of Greece’s bailout loans looks to have been agreed, subject to “technical officials”.

With unemployment at its lowest ebb for ten years and at pre-Financial Crisis Levels and inflation at 2.7%, perhaps the Fed can afford to feel relaxed about the economy.

Current US unemployment statistics, for last month, suggest that employment in the USA has fallen to a level before the onset of the Global Financial Crisis which started in 2007-08.

The Dow ended the week down (just) by 0.03% to close at 20656, however it climbed by 3.5% over the course of the quarter.

“Brexit means Brexit” has been the mantra since Theresa May came to power.

Now that the UK has started the process of leaving the EU, the full likely and potential ramifications of the decision are beginning to crystalize.

Unemployment in the Eurozone has declined from a peak of 12.1% (April 2013) to stand at 9.5% currently, its best level in almost 8 years (May 2009).

Last week was the final trading session for March and Q1 (which I’ll review next week). It was a mixed affair for the world’s major markets.

Passporting is a system whereby a business based in one EU country can trade across the whole bloc as if it had an office in every member state (i.e. as if it were “home” based).