FTSE: A very bearish MACD here and in other indices is expected to lead to further losses this month. Chart from Analyst, Nicole Elliott – Investors Chronicle.


FTSE SHORT TERM TRADER: New small short at 7225; stop above 7400. First target 7000.

FTSE POSITION TAKER: Short at 7260; stop above 7400. First target 7050, then probably 6675.


China imports surge
Reports a $20.3 billion trade surplus

This morning data from the Chinese mainland showed that the trade surplus dropped to $20.3 billion from a more usual $54.7 in December because the value of imports surged by 30.2 per cent. Exports rose too, but by a more modest 11.1 per cent. Analysts have suggested that the reasons behind this shift might be due to the week-long Lunar New Year holiday which starts on the eve of Friday the 15th February. This also might add to skittish financial markets in the country.

Data from Japan this morning has the Economy Watchers survey for January dipping to 49.9, just under the key 50 level, and another small blow to PM Abe’s reflationary hopes. This follows data earlier in the week where labour cash earnings saw salaries grow by a paltry 0.7 per cent in the year to December.

Financial & Political Commentary



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