Leicester City – Premier League Champions 2016
If you’ve just returned from another solar system, you might not know that Leicester City football club won the English Premier League title for the first time in their history in 2016. Starting the season as 5000-1 outsiders, they triumphed over many well known and better funded clubs. I confess that I am not a follower of football. As a Leicester citizen, I couldn’t help but be riveted to the media coverage of this local success story. So why am I writing about a football success story on a trading website, apart from the fact that Plan B Trading is based in Leicester? I think...
Read MoreOut of the Woods
The non-farm payroll (NFP) figures a week ago did not suggest to me that we are out of the woods just yet. After strong numbers for several months on the spin, January’s low numbers weren’t significantly revised upwards and the numbers for February came in on the low side. This suggests that while growth in the world’s largest economy is continuing, it is not doing so at the pace set last quarter. This is two months of lower than expected jobs growth. Not the end of the world by any means, as it is only two months of data. Maybe the frozen weather conditions are slowing the rate of growth?...
Read MoreTrading in progress for 2014
The first full week of 2014 has seen trading activity resume in full. Yesterday, we had the Bank of England and European Central Bank setting interest rate policies for their economies. The UK rates were held, with UK economic news generally continuing to support sterling. With the US economic growth powering ahead, it has to be reckoned that the Eurozone will eventually arrive at the party and benefit from this growth, in turn returning to growth. However, the Euro was under pressure yesterday as growth is lacklustre to say the least. Probably more accurate to say lacking instead. That was...
Read MoreTapering at last
The biggest talking point among traders for several months now has been “When will the FED start tapering?”. At least we know the answer now. Wednesday’s FED meeting announced a reduction in the amount of money being thrown at the market, reduced by $10bn a month from $85bn to $75bn. This really is a symbolic gesture. In the overall scheme of things, a reduction of $10bn a month being pumped into the US economy is neither here or there. The economic output of the US economy is well over $15,000bn and growing strongly. The other aspect of the FED announcement was not to...
Read MoreFarewell Mrs T
Much has been written and broadcast about the passing on of Margaret Thatcher. Her funeral took place whilst I was in the City of London working with some new traders. A couple of thoughts struck me through the day. Love her or loathe her, and much was broadcast to this end, I believe she was one of the best prime ministers to hold office last century. I agreed with much of what she accomplished, putting Britain back on the global stage and helping us feel proud of our nation. The protests were vile and distasteful, particularly for her family. According to reports I read in the press, some...
Read MoreTwo weeks into January
It’s pretty snowy and frosty in my part of the world. That said, we are two weeks into January and there have been some exceptionally profitable trading days so far this year, January 2nd being the first of them. It was almost so predictable, the USA did not fall off the fiscal cliff. No real surprise at all. The element of surprise was contained to the extent that the US politicians have been taking careful note, maybe even having private coaching from their European counterparts. Collectively, the US politicians managed to kick the can down the road. It worked in Europe in 2012, so...
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