Forex Infographic by Axitrader; 2013 currency winners and losers
The Essential: Forex Year in Review 2013
This excellent infographic done by forex broker Axitrader rounds up 2013 nicely for currency traders. While traders tend to be a forward looking group of people (there is money to be made every day while money lost occasionally is part and parcel of trading and water under the bridge), one can only learn and improve if one is mindful of history. Especially when some of those important issues in 2013 will come back to visit in 2014.
Who is AxiTrader?
AxiTrader is one of Australia’s largest domestic forex brokers. AxiTrader is the trading name of AxiCorp Financial Services Pty Ltd ACN 127 606 348 AFSL 318232. It is a majority Australian owned entity.
A big thank you to AxiTrader for sharing this with us. Below some of my own opinion.
Abenomics crushes the yen
Abenomics is the trademark economic policy of Japanese Prime Minister Shinzo Abe. It is a type of competitive devaluation, beggar-thy-neighbour economic policy. Abe assumed office in December 2012 and is still serving. Unless Abe has a change of mind, Abenomics is here to stay.
Cyprus is the third largest island in the Mediterranean Sea. It has a population of around 860,000 and a GDP of USD 23 billion. In contrast, Singapore has a population of 5.3 million and a GDP of USD 274 billion. The horror of Cyprus was not its bankruptcy but how domestic savings accounts were levied to save the government in an agreement between its President, the Eurozone and IMF without parliamentary approval. Horror and double horrors, Cyprus may become a template for other countries to fix their banks using depositors’ money.
US debt ceiling crisis
USD 17 trillion and counting. Both parties going through the motion of debating, shifting liabilities around… Mind you, they are not even talking about paying off. And there is trouble even coming up with a balanced budget. For those interested to see moving numbers, here’s a link to the US National Debt Clock.
The rise and rise of Bitcoin
The story of Bitcoin is an amazing one going from its creation in 2009, to its suppression by hostile governments, rapid adoption and recognition among retails and last but not least its tradability. We cannot tackle all the arguments here but here are some of our own stories.
- The easy Bitcoin guide for early adopters
- Donors use bitcoin during earthquake; Chinese adopt after media cover
- Bitcoin price too volatile, not suitable for risk-averse investors
- Price of Bitcoin down more than 50 percent in 18 hours; move by Baidu
The Federal Reserve finally begins to reduce stimulus
What is taper? When one hurtling over a cliff at 85 kmh decides to do 75 kmh only.
Best and worst performing currency pairs
- Winners USDJPY and EURJPY
- Losers AUDUSD and CADCHF
Director, TerraSeeds Market Technician Pte Ltd. Trader, investor. @sohtionghum was picked ‘Top 70 Forex Twitter in 2015’.
“Dear reader, I do not have a financial license to give advice. I do not know you the reader. Your financial objective and risk tolerance may be different from mine. I am not responsible for any consequence of your action.