EUR/USD: Another oversold currency which continues to try and stem this month’s losses. Chart/Levels from Analyst, Nicole Elliott – Investors Chronicle


EUR/USD SHORT TERM TRADER: Long at 1.1795; stop well below 1.1700. Target 1.2150.



UK beats budget
Best net borrowing since 2007

Rather than the £45 billion estimated by the office for Budget Responsibility, in the tax year to March 2018 Britain borrowed £40.5 billion, the lowest since March 2007. Kicking off this tax year net borrowing in April was £1.6 billion, less than this time last year, and the lowest since April 2008. OBR estimates that in this tax year public sector borrowing will drop to £37.1 billion, a quarter of 2010’s peak.

The Wall Street Journal reports that US Congress yesterday approved a revamp of rules governing financial institutions, pushing back on Dodd-Frank reforms. The House voted 258 to 159 to allow small and mid-size banks more leeway so as to expand and lend more. The bill has already been approved by the Senate (67031 vote) and just needs President Trump’s signature.

Financial Markets & Political Commentary



, , , , , , , ,

Related Posts

About the author

High profile, trusted, veteran Technical Analyst with over 25 years’ banking experience. Key expertise in all areas of Treasury, especially foreign exchange, derivatives, fixed income and commodities. Acknowledged for personal contribution to new developments in the industry. Well regarded by the media for provision of accurate forecasts, succinct copy and entertaining sound bites. Thrives in dealing room environments – excellent interpersonal skills and a strong communicator with extensive business contacts. Looking for suitable and interesting opportunities.