In a nationally televised address she accused him of ‘’betrayal of his oath of office, betrayal of national security and betrayal of the integrity of our elections’’. Firing back on Twitter Donald Trump called the impeachment inquiry ‘’Witch Hunt garbage’’.
The Financial Times reports that today Dieter Kempf, head of the German BDI business lobby group, called on his government to abandon what’s known as ‘black zero’ balanced budget rule. He thinks the government should increase sovereign borrowing because, ‘’we have a different situation. The economic boom is coming to an end, the state can borrow at negative interest rates and we have a big investment deficit’’. He is the latest in a long line urging a more pro-active stance, especially on investment in education and infrastructure.
DAX 30
Slipping suddenly after Monday’s decent-sized hanging man, just tipping momentum bearish at last night’s close, yet holding above first retracement support at 12200. Yesterday in a German court in Braunschweig (near Wolfsburg) prosecutors accused VW CEO Diess and Chairman Poetsch, and ex-CEO Winterkorn of criminal charges relating to ‘dieselgate’.
SHORT TERM TRADER: Short at 12365; stop above 12500. Target 11600.
POSITION TAKER: Square.
FTSE 100
Despite yesterday’s sharpish sell-off we have yet to see momentum turn bearish.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
S&P 500
Re-testing horizontal support around 2960 and no bullish momentum to speak of.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
BRITISH POUND/US DOLLAR
Mercifully steady and momentum still bullish despite the momentous goings on in Westminster.
SHORT TERM TRADER: Square.
POSITION TAKER: Long at 1.2500; stop below 1.2375. Target 1.2750.
EURO/US DOLLAR
A rather sorry little chart as Bloomberg reported yesterday that the ECB’s Mario Draghi suggested the governing council should be open to ideas such as Modern Monetary Theory. Just the welcome gift for Christine Lagarde when she starts her new job.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
GOLD
Adjusting my horizontal support and resistance lines as things aren’t going to plan; very frustrating.
SHORT TERM TRADER: Short at 1520; stop above 1535. Target 1440.
POSITION TAKER: Short at 1507; stop above 1560. Target 1440.
