DAX: A weekly close below here would add to bearish pressure and may add to the onslaught on Monday..Chart from Analyst, Nicole Elliott – Investors Chronicle.

 

DAX SHORT TERM TRADER: Small short at 12535; stop well above 12400. Will add to the short position on a weekly close below 12000 tonight keeping the target at 11700.

DAX POSITION TAKER: First target at 12050 met and partial profits taken. Will re-sell tonight on a weekly close below 12000.

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Trump’s tough tariff talk
On aluminium and steel

As promised in his election campaign, President Trump says he will impose a 10 per cent import tax on aluminium and a 25 per cent one on steel, where the US is the biggest importer in the world. Interested nations reacted predictably. Interestingly the Benelux Customs Union entered into force in 1948, a pre-cursor to the EEC, and was created to protect the coal and steel industries of Belgium, the Netherlands, and Luxembourg.

In a State of the Union address yesterday President Putin announced a raft of new defence systems, including a prototype missile that ‘can reach any point in the world’; if Russia were attacked, he said he is prepared to use nuclear weapons. As the missile and subsurface unmanned vehicle did not have names yet, he urged (joking) delegates to submit suggestions via the Defence Ministry website, reports CNBC.

Financial & Political Commentary

 

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