Nicknamed AKK, AKA Annegret Kramp-Karrenbauer, was handpicked by Chancellor Angela Merkel to lead the CDU party – and hopefully fill her shoes when she retires in 2021. Yesterday the former stepped down as leader of the party and said she would not stand for the position of Chancellor when it becomes available. This is because of an outcry over voting in the ex-East German state of Thuringia, where contrary to convention barring all parties from working with the far-right Alternative for Deutschland, the CDU sided with them to elect a new state premier. The starting gun has been fired to see who’ll now lead the CDU.
Today in a written piece for City AM newspaper UK chancellor Sajid Javid insists that in terms of City of London regulation financial services ‘’will no longer be a rule-taker’’ and that he’ll make sure it has the ‘’flexibility to thrive outside the EU’’.
DAX 30
Momentum only slightly bullish as we approach the record high set this January. Data today showed Daimler profits fell by 60 per cent in 2019, released a third successive profit warning, and slashed its dividend. It will also cut 15,000 jobs
SHORT TERM TRADER: Square.
POSITION TAKER: Short at 12945; stop above 13650. Target 11850.
FTSE 100
Now the MACD is a bit of a mess.
SHORT TERM TRADER: Short at 7470; stop above 7550. Target 7200.
POSITION TAKER: Square.
S&P 500
Not overbought on the daily chart despite inching to a new record high.
SHORT TERM TRADER: Stopped out on this morning’s squeeze higher.
POSITION TAKER: Square.
BRITISH POUND/US DOLLAR
Tempted to buy again but want to see it lift up off the 1.2900 area.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
EURO/US DOLLAR
Negative sentiment kicking in as the euro falls for a sixth consecutive day. Keep an eye on how the market moves at 1.0875, last year’s low. Rumours swirling as to what exactly Christine Lagarde’s review of ECB policy will contain.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
GOLD
Mucking about just above the pivotal 1540 area.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
