EDITOR’s note What’s ahead in 2019?
Last year hasn't been easy for traders and investors. Many named it "Annus Horribilis", in other words horrible year, an expression which Queen Elizabeth II used in 1992 to describe a period marked by a series of family and personal problems. During that year, the UK monarch had to go through family divorces, separations, scandalous photos of loved ones and a fire that destroyed one of her personal residences.
For investors, 2018 was the year
of negative returns
from almost every major asset class, including bad returns on stocks which were down across the board, a Bitcoin collapse followed by most cryptocurrencies, the worst year for bonds since 2014, the slowdown in the growth of
emerging markets, poor
performance from most commodities, and a sharp decline of oil prices which had their worst year since 2015.
Looking at currencies, the euro, pound, Canadian and Aussie dollars and Swedish crown have all lost between 5 and 10 percent and though the Japanese yen comes out largely unscathed, emerging markets certainly haven't. Argentina's peso and
Turkey's lira have slumped 50 and 30 percent, while India's rupee, South Africa's rand, Brazil's real and Russia's rouble are all down between 10 to 15 percent. China's yuan is in the red for a fourth year in five.
A big difference compared to twelve months ago, when it was difficult to
to sow division for political gain, even Queen Elizabeth II - who has always remained carefully and deliberately neutral on all political matters - recently called for unity ahead of Brexit, during her Christmas message.
To face difficult market conditions and unexpected price moves, we believe that
traders should be
prepared psychologically, and we’ve asked trading psychology experts to give us their views on how traders can improve their performance in any kind of market situation by changing their mindset. In the article "Developing the mind of an effective trader", the author unveils three aspects that have to be combined in order to create
find any faults with 2017 asset class performance.
Now looking at what’s ahead for the markets in 2019, we expect the US Dollar to start its decline this year, and you will find that political challenges and economic headwinds remain among the key factors to watch that will dictate the future of the currency markets. At a time when national populists surge across Europe and US President Donald Trump continues
the conditions of effective trading. In "Te Trading Mental Game" you will learn how to understand the market and master the trading game by improving your
skills in every
macro-area of trading. Te author will guide you through the fundamental principles of trading in a new series of articles for FX Trader Magazine.
Wishing you all a prosperous year. Emmanuelle Festa Bianchet
FX TRADER MAGAZINE January - March 2019 5
FX
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