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Cross border lending surges

In Q1 2017
July 20, 2017

Data from the Bank of International Settlements, often known as the bankers’ banker, shows that lending rose by $427 billion in Q1, mainly to emerging markets where growth totaled 8 per cent, half of which was to China.  The total outstanding is now running at $27.7 trillion.

 

The US National Association of Realtors reported yesterday that in the year to March 2017 the volume and value of US property sold to foreigners hit a new record, $153 billion the China contingent leading the pack.  One in five properties and 10 per cent of the value of all properties were bought by overseas persons

DAX 30

Waiting to see what Super Mario has to say for himself today.   

 

SHORT TERM TRADER:  Square.

 

POSITION TAKER:  Square.

FTSE 100

Momentum turning more bullish as we rally to last week’s highs.

 

SHORT TERM TRADER:   Square.

 

POSITION TAKER:  Short at 7325; stop above 7455.  First target 7125.

S&P 500

Pushing up to a new record high and becoming overbought in the process as President Trump’s son and son-in-law face grillings next week.

 

SHORT TERM TRADER:  Square.

 

POSITION TAKER:  Square.

BRITISH POUND/US DOLLAR

Clinging to first support but bullish momentum is not exactly convincing. 

 

SHORT TERM TRADER:  Small long at 1.3100; stop below 1.3000.  Target 1.3400.

 

POSITION TAKER:  Small long at 1.3090; stop below 1.2900.  Target 1.3400.

EURO/US DOLLAR

Marking time just under the new high for this year as we wait to see whether the ECB manages to upset the market as badly as it did last month.

 

SHORT TERM TRADER:  Small long at 1.1525; stop below 1.1400.  Target 1.1700, maybe 1.2000.

 

POSITION TAKER:  Square.

GOLD

Momentum turning bullish as we hold at the Fibonacci 38 per cent retracement level of the previous decline.

                            

SHORT TERM TRADER:  Square.

 

POSITION TAKER:   Square.