GBP/USD: See how they run!..huge shift in outlook that is taking place. Chart from Analyst, Nicole Elliott – Investors Chronicle.

 

GBP/USD SHORT TERM TRADER: Target at 1.4250 comfortably met so have taken profits and will see where we settle on the week and on the month.

GBP/USD POSITION TAKER: Long at 1.3730; stop below 1.3870. Holding out for my second target around 1.4600.

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South Korea Q4 shrinks Surprising fall in exports

The Financial Times reported earlier that in the fourth quarter of 2017 South Korean GDP shrank by 0.2 per cent, giving the lie to the current mantra of ‘synchronised global economic growth’; a rare event that has only occurred 4 times since 1999 following the Asian crisis. This follows strong growth in Q3 2017, 1.5 per cent, the fastest in 7 years. Exports dropped by 5.4 per cent from the previous quarter, mainly due to fewer car sales.

The ONS published UK November employment data yesterday showing that wages rose 2.4 per cent over the year, unemployment remained at 4.3 per cent, and the number of those in worked matched 1971’s record high (when this series was started) of 32.2 million. This equates to 75.3 per cent of 16 to 64-year-olds doing some form of paid work. In the US, where unemployment is 4.1 per cent labour force participation stands at 62.7 and in Germany 60.9.

Financial & Political Commentary

 

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