New Infographic Explaines What Caused the GBP Flash Crash
The British Pound hit a record 31 year low on the 7th October, dropping 8% from $1.26 to $1.14 in just two minutes. It rallied just 30 minutes later, back to $1.24.
The infographic, published by Top10ForexVps.com, attributes the start of the decline to the Brexit result. Other key turning points included negative political announcements, algorithmic reactions and thin liquidity.
The infographic can be found here: http://top10forexvps.com/
Adam Grunwerg, forex analyst and owner of Top10ForexVPS.com, said: “The crash was a combination of thin liquidity and big volume, which equals major absorption.”
Retail giant Sports Direct was one of the companies most affected, losing £15 million – 5%of its annual profits.
Bank of England Governor Mark Carney has asked a special committee to investigate the causes of the crash.
Commenting on the future of the GBP, Grunwerg added: “Failure to break the 1.2000 level means that bulls are in control in the short-term. Long-term, the pound is definitely going down. The closer we get to article 50, the more volatile the market will get. Looking into historical price action, breaking 1.2000 and dropping 1,000 pips in high volatility does not seem unlikely.”
The articles on this website are provided as a community service for information purposes only. BlackRefer.com does not accept any responsibility or liability for the use or misuse of the above article content. Use this information with caution and at your own risk.
No Implied Endorsement:
BlackRefer.com does not endorse or recommend any article on this site or any product, service or information found within said articles. The views and opinions of the authors who have submitted articles to BlackRefer.com belong to them alone and do not necessarily reflect the views of BlackRefer.com. Resources/links that may be included in said articles are only suggested as sources for the reader to explore but we can't confirm or take responsibility for it's accurateness, timeliness, or completeness.
BLACK / AFRICAN AMERICAN STOCKBROKERS
- Aulana L. Peters...
Aulana L. Peters is a retired partner at the law firm of Gibson, Dunn & Crutcher LLP, where she was active partner from 1980 to 1984 and from 1988 to 2000. From 1984 until 1988, she served as a commissioner of the Securities and Exchange Commission (SEC), and as a board member of the Public Company Accounting Oversight Board. She was the first African American ever to serve as a commissioner of the SEC, and only the third woman ever to do so.
- A Walk Down Wall Street...
A walk down wall street: a modern history of black achievement in the financial markets.
- Black Wall Street Paves The Way ...
Oakland's Black Wall Street is the founding member of a national organization, www.blackwallstreet.org - a modern-day push for self-empowerment and self-determination, which have remained elusive goals for many African Americans since the early 20th century.
- Black Wall Street USA...
It takes a move in the spirit to cause a spiritual movement.
- Daniels & Bell Inc. ...
Daniels & Bell Inc. was a top municipal-bond underwriter and became a Big Board member in 1971.
- Franklin Raines...
Franklin Raines joined the Clinton Administration as the Director of the U.S. Office of Management and Budget, where he served until 1998. In 1999, he returned to Fannie Mae as CEO, "the first black man to head a Fortune 500 company.
- Joseph L. Searles III...
On February 13, 1970, Joseph L. Searles III became the first black floor member and floor broker in the New York Stock Exchange. He was a member of the Stock Exchange Luncheon Club.
- Lilia St. John...
Lilia St. John was the first black woman to pass the New York Stock Exchange New York Stock Exchange (NYSE) exam.
- Philip Jenkins...
Philip Jenkins co-founds Special Markets Inc., the first black-owned and operated brokerage located in the Wall Street financial district. The black press dubbed him "The Wizard of Wall Street.
- Reginald Lewis...
Reginald Lewis was an American businessman, who was one of the most successful business leaders during the 1980s. He was the richest African-American man in the 1980s. Born in Baltimore, Maryland, he grew up in a middle class neighborhood. He won a football scholarship to Virginia State College, graduating with a degree in economics in 1965. He graduated from Harvard Law School in 1968 and was a member of Kappa Alpha Psi.
- Stanley O'Neal...
An American business executive. He is the former President, Chief Executive Officer and Chairman of the Board of Merrill Lynch & Co. Inc., having served in numerous senior management positions at the company prior to this appointment. O'Neal was one of the first African-Americans to rise to the top on Wall Street.
- The Black Wall Street...
During the oil boom of the 1910s, the area of northeast Oklahoma around Tulsa flourished, including the Greenwood neighborhood, which came to be known as "the Negro Wall Street" (now commonly referred to as "the Black Wall Street") The area was home to several prominent black businessmen, many of them multimillionaires.
- What Is Black Wallstreet?...
It's an important part of history that every Black person should know, if they don't know already.