DAX: Bouncing once again from a dip below horizontal support at 12000 and momentum becoming a lot less bearish. Chart from Analyst, Nicole Elliott – Investors Chronicle.

 

DAX SHORT TERM TRADER: Stopped out of my short position this morning for a small profit.

DAX POSITION TAKER: Also stopped out of my short position.

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London and Stockholm house prices fall
Biggest drops since 2009

Acadata reported last night that London house prices fell 2.6 per cent to an eye-watering average of £593,396 in the year to January, the fastest pace since August 2009. The biggest annual drop of 14.9 per cent was in the borough of Wansdworth, followed by Southwark at 12.2 per cent and
Islington’s 8.8 per cent fall. Swedish house prices have fallen by 10 per cent since peaking last summer, yet demand from immigration means the ruling Social Democrats have increased construction as a key policy directive.

City AM reports that Claudio Borio, head of the monetary and economic department at the Bank for International Settlements said recently that markets and the economy are ‘sailing in uncharted waters’ and that it was ‘unrealistic to expect no further market ructions’. Despite strong fundamentals he urged central bankers to tread a ‘narrow path’ in taking interest rates up to
more normal levels to avoid derailing growth.

Financial & Political Commentary

 

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