Avertissement : les CFD sont des instruments complexes et comportent un risque élevé de perte rapide d'argent en raison de l'effet de levier.
Vous devez vous demander si vous comprenez le fonctionnement des CFD et si vous pouvez vous permettre de prendre le risque élevé de perdre votre argent.
Trader Web MT5
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Grexit
Grexit was a term coined from the Greek word for Greece and the word “”exit.”” It means a potential departure of Greece from the euro and a reversion to its own currency, during the eurozone debt crisis. Its popularity increased around 2012, when the market price of the risk of a eurozone breakup actually became a reality due to Greece’s fiscal situation.
Greece’s departure would have been “unprecedented” and could spread to other countries, raising immediate questions about which country would next follow. In the end, Greece remained in the euro despite painful bailouts and austerity measures, but the episode has left a lasting impression on markets’ thinking about monetary unions.
Example: In 2012, when the risk of Grexit was at its highest, Greek government bond yields reached levels that made refinancing extremely difficult, the euro came under pressure as contagion fears spread to Spain and Italy, and European bank stocks also faced significant pressure. Eventually, ECB President Mario Draghi was able to calm things down with his now-iconic “whatever it takes” statement, which helped reduce the “Grexit” talk and market concerns about eurozone fragmentation.
Grid
A trading strategy that involves placing buy and sell orders at regular intervals above and below the current price, with the goal of profiting from small price movements.
Gross domestic product
Gross domestic product measures the total value of all goods and services produced within a country’s borders over a specific period—typically reported quarterly and annually. It’s the most widely used measure of economic size and growth, and the one that markets, central banks, and governments watch most closely.
A growing GDP generally signals economic expansion; a shrinking one signals contraction. Two consecutive quarters of negative GDP growth is often used as a conventional rule of thumb for identifying a technical recession, although official recession definitions may differ by country. GDP data is a major market mover because it can influence central bank decisions on interest rates and government thinking on fiscal policy.
Example: A major European economy reports a GDP contraction of -0.1% for the second consecutive quarter, meeting the commonly used rule of thumb for a technical recession. Equity markets may sell off, the Euro may weaken on expectations of rate cuts, and Euro-denominated bond yields may fall as investors anticipate a more accommodative European Central Bank (ECB). A single number—the GDP print—can influence the narrative across multiple asset classes simultaneously, which is why it is closely watched on every trader’s economic calendar.
Gross domestic product (GDP)
Gross domestic product (GDP) is the value of all goods and services produced within a country’s borders in a given period, usually quarterly and annually. It is the most commonly cited indicator of economic size and growth, and it’s the most closely followed by central banks, governments, and markets.
Two consecutive quarters of negative GDP growth is often used as a conventional rule of thumb for identifying a recession. One of the key data points that influence the market is GDP, which directly feeds into interest rate decisions and fiscal policy thinking.
Example: The US reports negative GDP growth for a second consecutive quarter. The equity markets could come under pressure as the dollar may lose ground amid rate-cut expectations and yields decline due to Fed rate-cut pricing. A single number can influence traders across multiple asset classes at the same time – hence the reason GDP can be a significant market-moving indicator, and revisions can send markets significantly higher or lower than expected.
Gross national product
Gross national product measures the total value of goods and services produced by a country’s residents and businesses, regardless of where in the world that production takes place. The difference from GDP is the geographic boundary – GDP counts everything produced within a country’s borders, while GNP counts everything produced by a country’s nationals wherever they happen to be operating.
For most large economies the difference between the two is small. For countries with large overseas workforces or significant multinational corporate activity, it can be more meaningful. GNP has largely been replaced by Gross National Income as the preferred measure, but the term remains in use.
Example: Ireland’s GDP is significantly affected by the activities and profits of multinational corporations, including income associated with intellectual property and other assets held in Ireland, which may not reflect domestic economic activity alone. Its GNP adjusts for certain income flows between Ireland and the rest of the world and can therefore provide a different perspective on national economic activity. For Ireland, the gap between GDP and GNP is not a technical footnote – it’s a meaningful difference in how you read the economy.
Gross National Product (GNP)
GNP is the total value of goods and services produced by people and businesses in a country. These include the value of goods and services produced overseas but owned by residents or businesses in the country. The only distinction between GDP and GNP is geography: GDP includes the sum of all production within a country’s borders, while GNP includes the sum of all production by nationals of a country wherever they work.
For most large economies, the gap between the two is small. It can be very sizeable, particularly for countries with large overseas workforces or large multinational companies.
Example: The profits of multinational corporations are taxed in Ireland but manufactured in other countries – Ireland’s GDP is inflated by this. GNP takes some of this difference into account and can provide a different perspective on the earnings of the Irish people and economy. The difference between GDP and GNP is not a footnote in Ireland; it is an important difference that affects the way economists and policy makers interpret the performance of the domestic economy.
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