GBP/USD: David Davis’ Brexit bonanza hits Vienna today, where they have a right- leaning Eurosceptic coalition government, a poll published..Chart from Analyst, Nicole Elliott – Investors Chronicle.


GBP/USD SHORT TERM TRADER: Small long at 1.3885; stop below 1.3900. Target 1.4200.

GBP/USD POSITION TAKER: Long at 1.3930; stop below 1.3900. First target 1.4275, then 1.4650.


Punjab National Bank faces downgrade Fraud at Mumbai branch

Ratings agency Moody’s today said that India’s second biggest state lender, the Punjab National Bank, was under review for a downgrade. This follows the bank’s announcement on Wednesday that its branch in Mumbai had been targeted by businessmen, aided by branch staff, who received loans worth $1.77 billion which had avoided the normal approval channels. Shares in the bank are off by 31 per cent since last week’s announcement.

Today Venezuela launches its version of a crypto-currency, the ‘petro’. Backed by blockchain technology it’s said to be worth a barrel of the nation’s oil. It is unclear whether buying it might break current sanctions against the country.

Financial & Political Commentary



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