S&P SHORT TERM TRADER: Small short at 2675; stop above 2685. Target 2585. Chart & Levels from Analyst, Nicole Elliott – Investors Chronicle

 

China nudges interest rate
A notch higher

Today the People’s Bank of China raised its 14-day lending rate by 5 basis points to 2.7 per cent mirroring a move last week in its 1-week rate to 2.55 per cent.
Data from credit card firm Visa out today shows that British consumers reigned in their spending in the three months to March by the most in 5 years, down 1.4 per cent compared to this time last year. This follows a 1.3 per cent fall in Q4 2017. Blamed mainly on the ‘Beast from the East’, it underlines the fragility in household confidence.

Financial Markets & Political Commentary

 

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