As we have come to expect from EU officials and heads of state, everything is last-minute and these muppets ‘work’ late into the night. To this mix we can now add German finance minister Olaf Scholz who yesterday said his country was ‘’is not willing to have extra debts’’. According to his department’s calculations GDP this year will be 0.5 per cent and 1.5 per cent in 2020 while unemployment stands at 2.9 per cent this year and will dip to 2.7 per cent next year. This was in an interview with CNBC yesterday.
Many in the US Republican party have condemned their President’s withdrawal of American troops from Syria. According to House speaker Nancy Pelosi this led to Donald Trump’s ‘’meltdown, sad to say’’, he accused her of being ‘’unhinged’’ and she stormed out of the meeting.
DAX 30
As overbought as it was in July.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
FTSE 100
Prices sagging just a little but the MACD is no longer bearish.
SHORT TERM TRADER: Small short at 7140; stop above 7275. Target 7025.
POSITION TAKER: Square.
S&P 500
Holding just above our watershed level with almost zero price action yesterday. Worth noting that a US helicopter firm has gone into liquidation because of New York city’s Mayor de Blasio new rules on their use.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
BRITISH POUND/US DOLLAR
Overbought but holding quite nicely at the 1.2800 area, the highest price since mid-May.
SHORT TERM TRADER: Will consider going long again on a weekly close above 1.2800.
POSITION TAKER: Square.
EURO/US DOLLAR
Decent bullish momentum mean this pair has managed to retrace a paltry Fibonacci 38 per cent of the most recent declines.
SHORT TERM TRADER: Took profits just ahead of original target at 1.1100 and will wait to see what the EU leaders have to say for themselves.
POSITION TAKER: Square.
GOLD
Sitting on it like a bird on a wire.
SHORT TERM TRADER: Short at 1520; stop above 1535. Target 1440.
POSITION TAKER: Short at 1507; stop above 1560. Target 1440.
