By Ashraf Laïdi
As head FX strategist at CMC Markets–one of the world's major forex/commodity brokers–Ashraf Laidi knows the forces shaping brand new foreign money marketplace and their interaction with rates of interest, equities, and commodities. And now, with foreign exchange and Intermarket research, he stocks his vast studies during this box with you. through the ebook, Laidi outlines the instruments had to comprehend the macroeconomic and monetary nuances of this dynamic box and gives you with insights which are necessary to taking advantage of a while inside of it.
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As head FX strategist at CMC Markets–one of the world's major forex/commodity brokers–Ashraf Laidi is familiar with the forces shaping present day foreign money marketplace and their interaction with rates of interest, equities, and commodities. And now, with foreign exchange and Intermarket research, he stocks his large reviews during this box with you.
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Extra info for Currency trading and intermarket analysis : how to profit from the shifting currents in global markets
S. economy from its slowdown in the second half of 1976. S. dollar, especially through his outspoken Treasury Secretary Michael Blumenthal, who pressured the Fed into monetary policy easing. The slide was accelerated in June 1977 when Blumenthal talked down the dollar after a meeting with his German and Japanese counterparts. The new policy sent the dollar tumbling more than 20 percent between January 1977 and October 1978, a dramatic plunge by postwar standards. S. S. S. oﬃcials talk down the currency.
S. trading partners were left with mountains of surplus dollars that were no longer exchangeable into gold at $35 per ounce. S. dollars by purchasing gold in the marketplace, driving both the fuel and the metal higher and sending the value of the dollar lower. The resulting devaluation of the surplus dollars around the world was a rude awakening to oil producers who had been receiving gold for their oil since 1933. From January 1971 to July 1973, the dollar index (measured against a basket of six currencies) lost 25 percent of its value, prompting the Organization of the Petroleum Exporting Countries (OPEC) to initiate its first price-boosting campaign.
In autumn 1979, inflation hit 13 percent, surpassing the highs of 1974 and attaining levels not seen in 32 years. 0 percent. In October 1979, the Federal Reserve made a historical policy shift by adopting a new operating system of targeting money supply rather than interest rates. As it set targets for the quantity of money (money supply) and shifted away from targeting the price of money (interest rates), interest rates posted unforeseen sharp fluctuations in their postwar-era levels. Weeks after the Fed made its change, the Fed funds rate jumped to 17 percent in one day, dropped to 14 percent the next day, before rebounding again to 17 percent and back down to 10 percent.