DAX “..denotes instability and keeps momentum bearish.” Chart from Analyst, Nicole Elliott – Investors Chronicle.

 

“A tiny hanging man/dragonfly doji candle last week above trend line support but below horizontal resistance denotes instability and keeps momentum bearish.”

 

Xi might extend his rule
Remove two term limit

Chinese state news agency Xinhua said yesterday that the ruling Communist Party might change the rules which limit a president to two consecutive five-year terms in office.

Current President Xi Jinping, 64, will officially be elected to his second term when the annual meeting of parliament takes place on March 5th. The news has sparked a backlash on social media, Reuters reports, to which official media sources reacted with a propaganda push today.

This week the Bank of England will wind down its Term Funding Scheme, dreamt up in June 2016 to make sure its Bank Rate cut was passed through to households and small businesses. So far roughly £115.4 billion credit has been extended.

Financial & Political Commentary

 

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