GBP surging, shares on the rise – all due to the Conservatives winning their largest majority since the 1980s.
The Conservatives won a clear majority in the general election and we have seen instant rises in the markets as the uncertainty surrounding Brexit is now a little bit clearer.
The pound jumped to a three-and-a-half-year high against the euro.
On the stock market, the FTSE 100 share index rose 1.5%, while the FTSE 250 – which includes more UK-focused shares – leapt 4%, hitting record highs.
It is now up to Boris to deliver what he has promised and “get Brexit done”.
However now is when the hard work begins.
The election results have only served to remove a layer of the Brexit picture, Boris can now push on with his proposed deal but there are many factors to it which still need to be outlined and negotiated.
For example trade deals with the EU need to be negotiated, the SNP will argue Scotland should be kept in the EU and so on and if they aren’t successfully negotiated in 2020 we could back seeing levels of uncertainty which have clouded the economy and markets for the past 3 years.
In the short term we should see confidence return but medium to long term its still very much an unknown, what Boris will ACTUALLY deliver is anyones guess.
But what does all of this mean for you?
Well now would be as good as time as any to start thinking, as we head into 2020, how you can improve your trading knowledge.
Markets we know will continue to be extremely volatile.
It is not just Brexit and the UK elections we have to be aware of, trade deals between the US & China, Trump’s tweets, the Asian markets and so on are all factors in trading we need visibility on.
Profits can be accumulated from many different currency pairs, assets and commodities so even if times may remain uncertain for GBP or the FTSE 250 you should be learning how to trade all asset classes.
We have devised trading plans and strategies for many of our students and members so now is the time we can work on yours.
Join us in 2020 and let us create your trading plan to make 2020 your year.