The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD. The difference between trading assets and CFDs Path of least resistance remains lower GBP.” Further reading “That said, what is perhaps a surprise is the fact that while GBP sentiment is through the floor, net-long positioning among leveraged funds is stretched, leaving GBP vulnerable to liquidation risks. “This has been mostly played out against the USD as Fed Officials push back against the Fed pivot narrative, prompting cable to make a firm break through 1.20. “Just making ends meet has become a nightmare and the crisis of confidence will only worsen with the darkening days of autumn and the colder months of winter.”Ĭurrency strategist Justin McQueen at DailyFX says sterling, continuing to weaken across the board, looks more and more like a stagflation poster child.
#Blue streak liquidation driver
A sense of exasperation about the UK’s economy is the biggest driver of these findings. “All measures fell, reflecting acute concerns as the cost-of-living soars. “The Overall Index Score dropped three points in August to -44, the lowest since records began in 1974,” client strategy director Joe Staton at GfK said this morning. The GfK survey tightly tracks UK consumer confidence, asking close questions about household income and spending levels. “Indeed, the decline in the own finances balance of the GfK consumer confidence survey implies sales still have further to fall.” Ruth Gregory, senior UK economist at Capital Economics says as inflation is set to surge further, “we think the worst of the spending crunch still lies ahead”. Winter mood swingsĪ FTSE 100 earnings boost won’t lift the mood of those budgeting for huge winter energy bills though. “That’s reflected in weakness in the pound, which is actually good news for a globally-orientated FTSE 100 as it flatters the relative value of overseas earnings,” AJ Bell’s Danni Hewson said. US30 US Wall Street 30 (USA 30, Dow Jones)
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