Brexit, should we Stay or Leave?
The question that has been posed by many, should we stay or leave the EU Referendum on the 23rd of June 2016. You can learn how to trade and have a clearer understanding of fundamental events by trading the foreign exchange market (FX)
How did this all began?
The European Union started after World War Two as a guide to economic collaboration, with the idea that countries could trade together in harmony and not going to war with each other. There are 28 European countries included in this partnership. Since then, it has grown to become a ‘single market’, where goods, services and people exchange transaction smoothly. The rules are set by its own parliament to include issues such as transportation, consumer rights and even mobile phone charges.
Is there a need to hold a referendum?
The promised by Prime Minster David Cameron to hold a referendum, if he wins the general election in 2015. His ministers have called for the UK to be independent as they have no say since 1975. The EU have changed over the years and have gained control over the UK citizens.
In view of this referendum, banks, fund managers and retail traders have become on edge, trying to protect the pound from falling lower below 1.4000 level. If UK votes to leave in Brexit, the pound is likely to tumble and the dollar rise, which means our pound would worth less and will have a major effect on goods and services.
You can learn to trade fundamental and economic news to make profits.