As anger and protests over the shooting down of a passenger flight from Tehran continues, Iran’s supreme leader will lead today’s regular Friday prayers in the city’s Mosalla mosque. The Ayatollah has held the top role since 1989 and is the ultimate authority in the nation’s decision-making. The Guardian reports that he had been sceptical of the international nuclear agreement because he felt the US couldn’t be trusted.
In today’s City AM data from the Bank of England published yesterday showed that in 2019 credit available to business fell to its lowest since the great financial crisis. Dropping to -9.2 in Q4 from -3.5 in Q3, this was its sixth consecutive fall and the trend is expected to continue this quarter. Not only are banks reluctant to lend, businesses themselves are loath to borrow and demand for capital investment remains weak.
DAX 30
Price action has simply stopped due to lack of momentum. Yesterday at a VW board meeting CEO Herbert Diess said the overhaul of the business must accelerate otherwise it risks becoming another Nokia.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
FTSE 100
Tiny little daily ranges. Meanwhile the Brexit birthday bash in Parliament Square, in just s fortnight’s time, is turning into a right mess.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
S&P 500
Some US indices setting new record highs, and overbought’ ahead of Monday’s Martin Luther King US holiday. Davos starts in Switzerland on Tuesday (through to Friday) and of interest will be seeing who’s chosen not to go.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
BRITISH POUND/US DOLLAR
The MACD has been mainly bearish as this currency pair hugs its old trend line.
SHORT TERM TRADER: Small long at 1.3075; stop below 1.2900. Target 1.3500.
POSITION TAKER: Square.
EURO/US DOLLAR
A spectacularly dreary little chart.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
GOLD
Holding above pivotal support at 1540 but lack of bullish momentum bullish is worrying.
SHORT TERM TRADER: Small long at 1544; stop below 1530. Target 1580.
POSITION TAKER: Square.
