Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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GfK Consumer Confidence
The GfK Consumer Confidence Index measures the mood of the population every month, covering households’ personal financial situation, the current economic situation, and consumers’ willingness to buy major items. It was developed by the research firm GfK and provides a first indication of the period it covers, which is attractive to markets.
If confidence continues to fall, household spending – and hence growth – may begin to cool, and in any developed economy, a big portion of GDP is accounted for by consumer spending.
Example: GfK Consumer Confidence falls to its lowest level in more than a year after energy bills surge and a string of bad news about industrial job cuts in Germany. Retailers and consumer goods firms should be mindful: The confidence reading was weak, suggesting people may be cutting their budgets, which could translate into weaker retail sales data in the months to come. German consumer analysts take a similar approach to their earnings forecasts.
Ghana Cedi (GHC)
The Ghana Cedi is the currency of Ghana, one of West Africa’s leading economies, with substantial gold and cocoa exports and growing oil output. Over the last few years, the cedi has come under persistent depreciation pressures, driven by substantial fiscal deficits, high inflation, and heavy external debt.
A major event for African frontier debt markets was Ghana’s entry into an IMF rescue plan in 2023, following a debt crisis that led to a default on external obligations. The currency is floating, but the Bank of Ghana intervenes regularly to prevent disorderly movements.
Example: In 2022, Ghana’s debt crisis caused the cedi to depreciate rapidly as investor confidence shattered and foreign capital fled. The consequences were immediate for the typical Ghanaian: import prices rocketed, fuel costs rose, and servicing dollar-denominated private debt became a whole lot more expensive. The event was a useful reminder of how quickly currency weakness and fiscal stress can reinforce each other in a frontier-market economy with high external funding needs.
Gibraltar Pound (GIP)
The Gibraltar Pound is the official currency of Gibraltar, a British Overseas Territory at the southern tip of the Iberian Peninsula. It is pegged at parity with the pound sterling and the two currencies circulate interchangeably within Gibraltar, though Gibraltar notes are not accepted in the UK.
The economy is dominated by financial services, online gaming, and shipping – all sectors that operate heavily in sterling and dollars, making the peg to GBP a natural and stable arrangement. Gibraltar’s status as a financial centre has also made it an early jurisdiction for cryptocurrency and blockchain business licensing.
Example: A financial services firm operating in Gibraltar prices its contracts in sterling and holds most of its reserves in GBP, making the GIP peg largely invisible in day-to-day operations. The practical effect of the peg is that Gibraltar businesses transacting with UK counterparties face no currency conversion costs or rate risk – the currencies are interchangeable at par, which simplifies cross-border activity within what is effectively a single currency area.
Given
In the world of foreign exchange trading, “given” is a term used to indicate that a dealer has accepted a bid price set by a buyer — that is, the dealer has sold at the quoted bid price. It is commonly contrasted with “paid,” which indicates that a buyer has accepted the offer price.
These are concise dealing terms used to communicate that a quoted price has been accepted. They are particularly useful in fast-moving FX markets, where clear and efficient communication is important when agreeing a transaction.
Example: A market maker quotes EUR/USD at 1.0848/1.0850. A bank on the other side of the trade wants to sell euros and states “Given,” indicating acceptance of the 1.0848 bid. The market maker has therefore bought euros at that price, subject to the applicable dealing and confirmation arrangements.
Giving it up
“Giving it up” refers to a market or asset being unable to maintain a particular price level. It loses the level to the downside, usually to a support level, a round number, or another technically significant price that has held for some time. The phrase captures the idea that buyers who had been supporting a level are no longer able to maintain it, and the price moves lower.
A break below an important level may trigger stop-loss orders from traders holding long positions, which can contribute to further downward price movement.
Example: EUR/USD has been testing the 1.0800 level for two weeks. On Tuesday, the pair finally gives up the level following a stronger-than-expected US jobs report and breaks through on increased volume. Some traders with stops below the level may have their positions closed, while other market participants may interpret the breakdown as a potentially bearish signal. The pair subsequently moves towards 1.0750 in this hypothetical example.
Global Dairy Trade Price Index (GDT)
The GDT auction was originally established by Fonterra. Today, it operates as an independent joint venture between Fonterra, the New Zealand Exchange (NZX), and the European Energy Exchange (EEX). It serves as an important global price discovery mechanism for dairy commodities and is closely watched by agricultural traders, food companies, and currency traders focused on the New Zealand dollar.
New Zealand’s economy is heavily dependent on dairy exports, and shifts in GDT prices can affect New Zealand’s export revenues and therefore influence NZD.
Example: A sharp decline in the GDT Price Index following two consecutive weak auction results can put downward pressure on the New Zealand dollar against the US dollar and Australian dollar. Dairy accounts for a meaningful share of New Zealand’s export earnings, and traders who follow the agricultural calendar know to watch GDT auction results as one factor that can influence near-term NZD sentiment.
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