Brexit Trading Update From Nikolas Xenofontos, Director of Risk, easyMarkets

Posted On 24 Jun 2016

Today’s historic and shocking decision for the UK to leave the EU is likely to have an intense impact on global markets for some time to come.

We saw the sterling hit a 30-year low, stocks across the globe reacted negatively with the UK footsie losing 8.7% and predictably gold surged a massive $100.

Volatility is extremely high – if you look at the US dollar index, a gauge of investor nervousness, it climbed 3% to 96.685 after markets opened this morning, then see-sawed to 95.058 and is currently trading at 95.4.

With a global-shaker like this, we’ll see a lot of action across all markets around the globe.

In the near future, I’d keep a close eye on the key currencies – pound and euro, though the Aussie, Kiwi, Canadian and US dollar may also show some spunk.

In the longer term individual UK company stocks and indices like the FTSE 100, Eurostoxx 50, the German DAX and French CAC my see some massive readjustments.

There’s going to be a lot of fallout from this and the markets are offering up amazing opportunities for traders.

What do you think? Tweet us @easyMarkets and let us know your views

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