EURUSD: Holding neatly above trend line resistance and 1.1500 as bullish momentum increases. Chart & Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

EURUSD SHORT TERM TRADER: Long at 1.1415; stop well below 1.1400. Target 1.1500.

EURUSD POSITION TAKER: Square.

Swiss inflation slips
Off 0.3 per cent over Christmas

Data out this morning show that consumer prices in Switzerland fell 0.3 per cent during the month of December, one of the biggest M/M falls of the last 3 years, dragging the annualised rate down to just a 0.7 per cent increase. This suggests price rises peaked at 1.2 per cent in August, a level that has capped most of the time since 2009. Worth noting also that since 1994 Swiss CPI has printed over 2 per cent only briefly in 2008.

Australia, which prides itself in not having suffered a recession in something like 30 years, overnight published some rather scary data on building approvals. These fell 9.1 per cent in November meaning the annualised rate was a collapse of 32.8 per cent – almost as big a drop as January 2009’s 34.4 per cent fall and close to the record 43.6 per cent slump in February 2001. Unsurprisingly house prices around the country have already been falling at the fastest pace in 35 years, Sydney – as one would expect – leading with a 15 per cent fall followed by Melbourne’s 12 per cent reduction.

Financial Markets and Political Commentary
 

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