Disclaimer: I CFD sono strumenti complessi e comportano un alto rischio di perdere denaro rapidamente a causa della leva finanziaria.
Dovresti considerare se comprendi come funzionano i CFD e se puoi permetterti di correre l’alto rischio di perdere il tuo denaro.
Web Trader MT5
G
Global Macroeconomics
Global macroeconomics is the study of how large-scale economic forces – interest rates, inflation, trade flows, currency movements, fiscal policy, and geopolitical events – interact across countries and regions to shape the broader economic environment. In an investment context, global macro is both an analytical framework and a trading strategy.
Macro traders form views on how these forces will evolve and express those views through currencies, bonds, commodities, and equity indices rather than individual stocks. The approach requires understanding how different economies are interconnected and how a policy decision in one country can ripple through asset prices worldwide.
Example: A global macro fund forms a view that the European Central Bank will need to cut rates more aggressively than markets expect due to deteriorating German industrial data and weakening credit growth. It could express that view through European government bonds, the euro against the dollar, and European utility stocks that may benefit from lower rates. Three positions, one thesis – expressed across three different asset classes simultaneously. That’s global macro thinking in practice.
Global Supply Chain Pressure Index (GSCPI)
The Global Supply Chain Pressure Index (GSCPI) is a measure of global supply chain stress, released monthly by the Federal Reserve Bank of New York. It combines statistics on shipping costs, delivery times, order backlogs, and purchasing managers’ surveys across major economies into a single dataset.
If the reading is high, there are lots of bottlenecks. “If the reading is going down, that’s a good sign that things are getting better. It is a vital gauge closely tracked by central banks and inflation forecasters, as it is a direct measure of supply chain stress, which affects goods prices and inflation.
Example: When the GSCPI crested toward the end of 2021, we could see that the inflation rise was not only a demand problem – there was a true supply restriction all around the world. Those following the index could see evidence of persistent supply-side pressures, with significant repercussions for interest rates and bond markets over the next two years.
Globalization
Globalization is the process by which the economies of the world are becoming increasingly integrated through commerce, capital flows, migration, and the spread of technologies across borders. It took off in the 1980s and has kept growing fast since then, thanks to the reduction of trade restrictions and the expansion of global value chains. It gained a lot of momentum after the 1980s, when trade barriers came down, and value chains took on a cross-continental dimension.
Globalization has created significant interdependence: a disturbance in the manufacturing process in one nation may cascade across production processes in another country; a change in the interest rate in Washington might trigger capital outflows from Brazil. There has been some reversal since the commencement of COVID, with geopolitical risk and supply chain instability leading governments and enterprises to consider reshoring or diversifying supply chains.
Example: A corporation is based in California, yet its parts come from across Asia, are manufactured in China, and are sold worldwide. That supply chain is globalization made concrete. The efficiencies of globalization also bring political risk, which is far harder to hedge than currency or commodity risk. The trade tensions between the US and China, and the tariffs that followed, changed the cost structure for many businesses and supply chains, sometimes rapidly.
GMT
GMT is the mean solar time at the Royal Observatory, Greenwich, London. Traditionally used as a global basis for timekeeping, it remains a well-known reference for coordinating trading hours, settlement dates, and economic data releases in financial markets across many time zones.
The forex market trading day is typically divided into four trading sessions, each with commonly referenced start and end times. Data releases, option fixes, and option expiries may be quoted in GMT or another specified time zone to help avoid confusion between market participants in different regions.
Example: A trader in Singapore wants to know the exact time of a 4.00 p.m. London market fix. Because the UK changes its clocks for daylight saving time, 4:00 p.m. local London time is 16:00 GMT in winter (when London observes GMT), but 15:00 GMT in summer, when London observes British Summer Time (BST). GMT can serve as a constant reference point, allowing Singaporean traders to determine the corresponding local time while accounting for seasonal changes in London time.
Going long
The act of buying a security with the belief that it will rise in value over time.
Gold
For thousands of years, gold has served as a medium of exchange, a safe haven, and an anti-inflation measure. In contemporary markets, it is traded at both commodity and currency exchanges. It is generally expected to increase in periods of rising inflation expectations, low real interest rates, and high geopolitical risk – and to weaken in periods when interest rates are rising, and the dollar is strengthening.
Gold is also part of central banks’ foreign reserves, and physical markets are active around the world, driven by jewelry, technology, and investment demand.
Example: Gold prices rose from roughly $800 per ounce to more than $1,900 per ounce during the Federal Reserve’s recent aggressive rate cuts, following the general rise in inflation fears after 2008. Those who invested in it as a hedge against dollar debasement would have experienced significant price appreciation over that period. Those who stuck with it during the next rate hike cycle saw gold prices experience periods of significant weakness, although the magnitude and duration of any decline varied. People who held on to it through the next rate-hike cycle would have experienced a different outcome depending on the period measured and whether returns are considered before or after inflation.
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