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And so it's begun......4 months of constant debate on whether or not the UK should stay or leave the EU. Even though the date has only been set now for less than a week, we have already seen a massive impact on the value of Sterling against all of it's major trading peers. There are very few opinions to suggest that this is not set to continue as the uncertainty builds towards the 23rd June 2016 day of destiny. This morning saw cable duck below the 1.39 handle, curr…

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The media coverage of the housing market in the UK has been prominent since the economic crisis began in 2007. The global melt down began with mortgages being given to sub-prime borrowers, and then repackaged and sold as investment grade debt by banks and brokers. The property market in the UK ground to following the collapse of Lehman’s as banks tightened up their lending requirements and some home-owners were left in negative equity. Fast forward 5 years and there is a resurgen…

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On Twitter I got involved in a conversation about the regional disparity in property prices, and where the crisis had started. This then highlighted the similarities of the US sub-prime crisis and the current housing market and policy in the UK. @dlknowles @chakrabortty crisis started in estate agents in the US giving mortgages to sub prime borrowers.. — Joe Bond (@Joe_Trading) October 24, 2013 The subprime crisis began with as the housing market in the US was bubb…

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Nearly one in five UK companies favour leaving the EU - Bloomberg The Bank of Japan raised its assessment of all its regions for the first time since July 2012, citing a pickup in the global economy and resilient domestic demand, after unveiling unprecedented easing measures earlier this month - Bloomberg Gold and Silver continue their declines, spot Silver trading $24.50 and spot Gold traded as low as $1424.90/oz Dutch retail sales were down 4.8% YoY for February UK…

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The Yen is headed for its biggest 2-day gain since November The spending cuts and tax hikes scheduled to hit the UK in 2013 are milder than most other advanced economies, according to a Goldman Sachs research note out yesterday Hedge funds that use computers to follow trends lost money for a second straight year in 2012 as political debates over the U.S. fiscal cliff and Europe’s sovereign-debt crisis roiled markets – Bloomberg The U.K. economy will have a &ldqu…

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State backed Royal Bank of Scotland is the front page of the business press this morning after further details emerged from the Tan Chi Man case in Singapore. He is the senior trader who was dismissed for gross misconduct, but is suing RBS on the basis he was simply the scapegoat of a widespread problem. Details emerged that senior traders at RBS boasted about operating a “cartel” that made “amazing” amounts of money by rigging the global interest rates. Analysts are…

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In a worrying sign for the mining industry, Caterpillar the world’s biggest construction and mining equipment maker has cut is forecast for 2015 earnings. With Chinese demand slowing, commodity producers have reduced their capital expenditure, which will impact Caterpillars outlook. The shortfall in Apple iPhone5 units available for the first week of demand (only selling a record breaking 5 million) has been blamed on the use of thinner touch screen. The shortfall of the componen…

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The pace of growth in the Australian economy seems to have slowed. GDP data released overnight showed that economy grew 0.6% QoQ (Q2) compared to the more impressive 1.4% in Q1. The main contributing factor seemed to be the mining sector, down 1.4%. Perhaps this is due to other mitigating factors, though analysts are likely to point to the connection between the slowing of Chinese demand and Australian mining supply. Anticipation for the next iPhone release is underway as Apple…

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The key event of the week in the financial markets has arrived as traders eagerly await the speech from Federal Reserve Chairman Ben Bernanke at Jackson Hole, Wyoming. Speculation as to what the context of the speech will include, however the focus is due to whether there will be another round of quantitative easing (QE3). Many analysts and market commentators had voiced that this is all but a done deal, however it opinion seems to be split as to whether it will be announced. The Presi…

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The Mayor of London election campaign is in full swing, with radio and television coverage of debates between the incumbent Boris Johnson and his challenger Ken Livingstone. For those unfamiliar with Mayor of London post, it was created in 2000 after the London devolution referendum. The reason for its high profile nature of the post is that London is the bread winner of the UK. It is densely populated and filled with well paid professionals who pay a considerable contribution to the treasur…

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Economic data released this morning shows that the UK economy has entered a technical recession. This is deemed as two consecutive quarters with negative GDP. Economists has expected slight growth, compared to the actual shrinking of the economy. The Office for National Statistics said that the negative growth was due to a sharp fall in construction output. This is a disappointing release for the Chancellor George Osborne as the shadow of recession covers the country once again.…

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AFTER trading individual equities, retail traders are usually inclined to dabble in trading their indices. So what is an equity index, how are they priced and what are they actually trading? An equity index is a benchmark value of a basket of stocks. Each index will clearly define what its constituents are and how it is calculated. The most popular equity indices receive considerable coverage within the media, especially when they can easily summarise a country’s economy,…

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The UK financial services regulator announced yesterday that they had arrested a trader in a suspected unauthorised foreign exchange trading scheme. With the assistance of the City of London Police, the Financial Services Authority (FSA) today executed a search warrant at one address in East London in connection with an investigation into a suspectedunauthorised foreign exchange trading scheme. A 23 year old man was arrested on suspicion of committing offences under the Financial…

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