FTSE: Now back in the middle of the broadening top formation with 7 in 8 of the last weeks being a bullish candle. Chart & Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

FTSE SHORT TERM TRADER: Stopped out of my short position at last. FTSE POSITION TAKER: Square.

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China car sales slow yet again Fall 15.8 per cent in January

China’s Association of Automobile Manufacturers announced this morning that vehicle sales fell by 15.8 per cent in January from this period last year with 2.37 million cars sold. This is the seventh consecutive monthly decline with drops of 13 per cent in December and 14 per cent in November. However, sales of what they call ‘new energy vehicles’ rose to 95,700.

The Financial Times reports that EU-based financial derivatives traders have been given permission to continue to clear contracts through British clearing houses. The European Securities and Markets Association has approved LCH, ICE Clear Europe and LME Clear as they deem UK market rules as being of an equivalent standard to those of the European Union. The move would kick in on the 30th March 2017 – in the event of a no-deal Brexit – and run for 12 months.


Financial Markets and Political Commentary
 

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