EUR/USD “..those backing the euro might be having second thoughts at these multi-year highs” Chart from Analyst, Nicole Elliott, Investors Chronicle

 

EUR/USD SHORT TERM TRADER: Long at 1.2150; stop below 1.2040. Target 1.2575.

EUR/USD POSITION TAKER: Long at 1.2200; stop below 1.1900. First target 1.2600, then maybe 1.3000.

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Apple’s largesse Billions and counting

Yesterday iPhone and computer maker Apple agreed to make a one-off tax payment of $38 billion to the US government when repatriating overseas profits; this follows December’s change in the tax regime by President Trump’s government. The company has also pledged to invest another $30 billion in its US operations. CEO Tim Cook added, ‘I do believe the corporate tax [reform] will result in job creation and a faster growing economy’.

The British National Audit Office says the nation will owe £199 billion over the next decades in private finance initiatives – that have no clear benefit. This because in theory the government can finance itself more cheaply than any commercial borrower.

Financial & Political Commentary

 

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