EURUSD: A rather nasty large doji candle yesterday as the market looks for direction. Chart & Levels from Analyst, Nicole Elliott – Investors Chronicle

 

EURUSD SHORT TERM TRADER: Small long at 1.1440; stop below 1.1330. Target 1.1700.

EURUSD POSITION TAKER: Small long 1.1415; stop below 1.1300. Target 1.1600.

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Britain’s house price slide Centred on London

Today the Royal Institution of Chartered Surveyors said 41 per cent of members surveyed in October are predicting further drops in house prices over the next three months. Their index dropped to minus 10, from -2 in September, with the downbeat tone strongest in the south and east of the country; the volume of transactions remained flat or negative across the nation. Three quarters of homes offered over £1 million failed to reach their asking price.

Australia’s bank regulator, the Australian Prudential Regulation Authority, oversees its ‘big four’ which account for 80 per cent of market share and have been plagued over the last few years with accusations of misconduct. Twice over the last three years it has asked banks to boost the capital they hold. Yesterday it did so yet again, suggesting they must increase their buffer by 4- 5 per cent by 2023, and are not too fussy how they raise the money. Worth noting that in the year to September 2018 Sydney house prices fell at their fastest rate in nine years, are off by 6.1 per cent, and are predicted to lose another 4 per cent. Economists suggest Australians should prepare for the longest and deepest housing downturn in modern history.

Financial Markets and Political Commentary

 

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