Yesterday US investment bank Goldman Sachs announced that it would lend £100 million to Neyber, a fintech start-up that specialises in retail lending, the Financial Times reports. Set up 5 years ago by two ex-employees of its firm the interest rates charged tend to be lower than those of pay-day lenders and on credit cards because repayments are debited directly from salaries before they are credited to the borrower’s bank account. Thus default levels tend to be lower.
At Frankfurt’s motor show yesterday VW chief executive said of the cars his firm makes: ‘’the diesels we are offering today are clean. They comply with the WLTP requirements and they meet the requirements and needs of our customers’’. He also added that the diesel engine has a great future ahead and that he doesn’t think electric vehicle maker Tesla is a threat to Volkswagen.
DAX 30
This week’s burst above the 12335 level is not what we had expected and the market has retraced a Fibonacci 61 per cent of the decline from the record high.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
FTSE 100
Trading just above the 50 and 200-day moving averages which are moving in tandem across the screen.
SHORT TERM TRADER: Square.
POSITION TAKER: Short at 7300; stop above 7460. Target roughly 7000.
S&P 500
Some US indices have inched to record highs as the media eagerly awaits announcements from Apple about new phones today record high.
SHORT TERM TRADER: Stopped out of my short position yesterday for another small loss.
POSITION TAKER: Square.
BRITISH POUND/US DOLLAR
Holding up quite well this week close to this year’s highs, thus keeping the MACD steadily bullish.
SHORT TERM TRADER: Wondering where to go long again.
POSITION TAKER: Long at 1.3195; stop below 1.3080. First target 1.3450, maybe 1.4000.
EURO/US DOLLAR
Retreating again under the 1.2100 level with the MACD barely bullish.
SHORT TERM TRADER: Square.
POSITION TAKER: Long at 1.2035; stop below 1.1900. Target 1.2600.
GOLD
This chart is looking rather messy with a potential spike high last week. Keep a wary eye on the strength (or otherwise) of the US dollar where the Chinese authorities are making some fancy moves to nudge the exchange rate of the renminbi.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
