DAX: The MACD is still bearish despite this week’s little rally. Chart & Levels from Analyst, Nicole Elliott – Investors Chronicle.


DAX SHORT TERM TRADER: Small short at 11180; stop above 11400. First target 10600.

DAX POSITION TAKER: Short at 10955; stop above 11400. Target 9350.


South Korea’s jobless rise Highest in 9 years

Data released this morning and reported by Reuters puts South Korean January unemployment at 4.4 per cent. Though low by Western standards, this is a big jump from December’s 3.8 per cent and a level only exceeded briefly in January 2010. A rise in the minimum wage by 29 per cent over the last 2 years has been blamed in Asia’s fourth largest and notoriously hard- working economy. Others are pointing fingers at trade wars, with South Korean exports dropping for a third consecutive month causing the axe to fall on 170,000 manufacturing jobs over the last year.

Belgium will be a no-fly zone today with no aeroplanes taking off or landing. This is because an air traffic controllers’ strike meant they could not guarantee passenger safety.

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