Global real-estate specialist CBRE reported that Q2 demand for City of London office space hit a record £3.6 billion, part of a total £5.3 billion invested in London commercial property. Their data goes back to 1990, and the Square Mile’s latest is up £1 billion on last year. Over the last 3 months 13 deals were worth over £100 million, and over the last 18 months 3 deals were signed for over £1 billion each, including 5 Broadgate to a Honk Kong-based property company.
Just days after ThyssenKrupp agreed to merge with Tata Steel Europe, its CEO Heinrich Hiesinger resigned. A fortnight later chairman Ulrich Lehner has also resigned amid criticism of the restructuring plan that had been designed.
DAX 30
A tiny little hanging man candle yesterday is marginally bearish and the commodity channel index might turn down this week.
SHORT TERM TRADER: Small short at 12450; stop above 12650. Target 12000, maybe 11800.
POSITION TAKER: Square.
FTSE 100
Re-drawing the recent trend channel as this market goes nowhere and momentum is nil.
SHORT TERM TRADER: Short at a couple of levels; stop above well 7710. Target 7400.
POSITION TAKER: Small short at 7799; stop well above 7800. First target 7400, then 7100.
S&P 500
Almost overbought, as we were in early June, and according to Bank of America analysis this index would be in negative territory this year if it weren’t for the FANG stocks.
SHORT TERM TRADER: Tiny short at 2787; stop above 2880. Target 2590.
POSITION TAKER: Square.
BRITISH POUND/US DOLLAR
Still struggling with the descending trend line even if the MACD has been bullish for a little while.
SHORT TERM TRADER: Small long position at 1.3230; stop below 1.3070. Target 1.3400, maybe 1.3550.
POSITION TAKER: Long at 1.3235; stop below 1.3000. Target 1.4000.
EURO/US DOLLAR
Still trying to base against the 50 per cent retracement support level and hopefully the MACD will keep bullish.
SHORT TERM TRADER: Long at 1.1655; stop below 1.1600. First target 1.1850.
POSITION TAKER: Square.
GOLD
Barely bouncing off the bottom though bearish momentum is not all it could be.
SHORT TERM TRADER: Square.
