GBP/USD: Small jitters yesterday on what today has been labelled ‘fake news’ and they scurry to buy the Japanese yen..Chart from Analyst, Nicole Elliott, Investors Chronicle

 

GBP/USD SHORT TERM TRADER: Long at 1.3540; stop below 1.3470. First target 1.3800.

GBP/USD POSITION TAKER: Square.

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Dead and missing in California mudslides Hundreds of homes and buildings damaged

Santa Barbara County, one of the more affluent areas of Southern California, suffered from devastating mudslides which so far have killed 17 people and another 17 are missing following Tuesday’s heavy downpour, Reuters reports. Highway Route 101 running north-south is closed and not expected to reopen until next week. In Montecito, the homes of Ellen DeGeneres and Oprah Winfrey were affected. This week’s damage is believed to have been exacerbated by last month’s wildfires.

Reuters also reports that the Saudi Arabian stock exchange is tweaking rules in order to make it easier for foreigners to invest there. It might also be linked to the proposed partial flotation of Saudi Aramco. In London, the Intercontinental Exchange will shift several commodity derivatives over to their US operations in order to avoid Mifid II regulations as they will be regulated by the US CFTC.

Financial & Political Commentary

 

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