Post Brexit Exness - What Next?

01 July, AtoZForex –  Last Friday, millions of Britons voted for the UK to leave the EU. As a consequence, the GBP's worst performance was recorded and the financial markets are still chaotic. Due to these post Brexit market conditions, the traders around the world started to have concerns about their brokers. To relieve the traders' worries, AtoZForex has approached AtoZ approved Forex broker Exness for their opinion.

In an interview with Sergey Kochergin, Analyst at Exness, more information has been provided upon Post Brexit Exness operations.

Q1: What are the most traded instruments for Exness at the moment?

- The most popular financial instruments among Exness clients remain EURUSD, GBPUSD and USDJPY. 

Q2: What are your expectations for this trading week?

- In the week from 27 June to 3 July, financial market participants will see an adjusting bounce upwards world stock indexes, the euro, the pound, etc., against the background of liquidity injections by the ECB, the Bank of England and other regulators.  In particular, on June 24 the European regulator made a series of targeted long-term refinancing operations (TLTRO) of almost 400 billion euros.  

Q3: What are your expectations in the short and long-term?

- In the short term, we expect the EUR/USD, GBP/USD and USD/JPY to re-test its recent lows of 1,0911, 1,3119 and 99,92, respectively. In the long-term, the above currency pairs are likely to test the levels of 1,25, 1,05 and 95, respectively, until the end of 2016. 

We believe that the UK' exit from the EU will provoke the fall of the PMI index in the EU in the second half of 2016. The Bank of England may lower its key interest rate to zero and expand the program of quantitative easing by 200-250 billion pounds, so as to support the economy in the coming months. Against the background of the realization of Brexit, - the risk which the US Federal Reserve was fearing of, it is unlikely to resume the cycle of interest rate rise this year.  Moreover, if there is a second global risk for the world economy -  a slowdown in the growth rate of China's economy to 6-6,3% in 2016, the US Federal Reserve would be forced to relaunch the Qe4 - Quantitative easing program. The Bank of Japan is likely to intervene to weaken the yen at the moment of the fall in the USDJPY pair to the level of 95. 

Q4: Do you have any recommendations for traders?

-  General recommendation amid a significant increase in market volatility is to reduce the size of trading positions on all range of financial instruments; as well as hedging, and use of various Stop loss orders.  

Thank you for your time and input Sergey Kochergin. We are happy to deliver the news about brokers' performance after the recent historic trading day, where AtoZForex followers have been able to stay on top of the market news.

Through this interview, Exness has been able to provide the public more clarity about their operations, performance and risk management activities in the last 48 hours. If you are curious about the current situation of the other brokers and their opinion of the current market, please check AtoZForex's list of Forex Brokers Post Brexit operations and risk management activities.

Do you have more questions for Exness? Don't hesitate to post the question in the comment section below. 

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