EUR/USD: Scraping itself up off last year’s lows rather unsteadily..Chart & Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

EUR/USD SHORT TERM TRADER: Long at 1.1305; stop below 1.1260. Target 1.1480.

EUR/USD POSITION TAKER: Square.

Japan’s exports drop again
Second consecutive monthly decline

Data published overnight in Japan showed that imports into Japan in January fell by 0.6 per cent, while exports slumped by 8.4 per cent; this compares to an increase of 8.2 per cent in November. The trade balance stood at a deficit of 1.415 billion yen, one of the worst on record; for a country that became famous for its exporting prowess, the change is significant. Post WWII the trade balance held roughly at zero until the 1970s. A strong surplus in the trade of goods was maintained between 1980 and 2008, when the great financial crisis saw them plummet through to 2014 when it saw a record deficit of 2.795 billion yen. Recovering to a shrivelled surplus in 2015, things took a turn for the worse since July last year.

China’s Global Times newspaper, run by the Communist Party, has an op-ed this week which states: ‘[if] the US imposes more tariffs on Chinese products while China responds with fiercer countermeasures, it would be a catastrophic strike to global stock markets’. Britain’s Guardian has said that former New Zealand PM Jenny Shipley has denied writing this piece.

Financial Markets and Political Commentary
 

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