The year 2013 was surely a non-conventional year when it comes to trading currencies or commodities, where a lot of things happened that went against the forecasts or past trends. Let’s check out what happened this year and what impact it led to.
No matter how much money they keep printing, the value of the U.S. dollar somehow remained at its point, which could be categorized as a very wise policy being played by the FED where they are injecting money to boost their economy, while keeping their currency strong as well that is still somewhat a safe haven for many investors.
On the other hand, the yearly trend that the U.S. dollar normally gets stronger at the year-end was proved wrong this year, as the major currency pairs gained massively against the U.S. dollar in November and December where they made new highs. The euro tested as high as the 1.3875 area that made it significantly stronger now and is in the bullish zone.
Similarly, the British pound performed really well where credit goes to the improvement been done in the U.K. economy, where chances are that the GBP would further get stronger in 2014 as the BoE might be opting to raise the interest rates.
Gold plunged substantially and lost its value that it never lost in a year since 1981, as the U.S. economy performed really well where the unemployment level improved, more than expected number of jobs were added, consumer spending increased, housing and I.T. sector grew extra-ordinarily. Hence, eventually leading to increasing the GDP levels and making the economy as a safe one to invest and live in.
The stock markets – not only in the U.S. but in the Asian markets – soared to record levels where the SP500 and Dow Jones index tested their record high levels in history as the businesses grew in the U.S., leading to raising the stock prices of the companies and the overall indices on Wall Street.
To contact the reporter of this story: Jonathan Millet at firstname.lastname@example.org