GBPUSD: Bullish momentum’s at its strongest in months with an extra little boost from Norway’s $1 trillion sovereign wealth fund..Chart & Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

GBPUSD SHORT TERM TRADER: Watching for weekly and monthly closes above the trend line and resistance at 1.3200 before re-buying.

GBPUSD POSITION TAKER: Square.

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Hanoi summit cut short Signing ceremony cancelled

The first day of the summit meeting between President Trump and North Korea’s Kim Jong Un had apparently gone well with the latter, for the first time ever, happy to take questions from reporters in the press room. Both seemed pleased with their ‘constructive meetings’ and advised that after lunch today there would be a small ceremony; both have now been cancelled. This will add to the US President’s woes where Niall Ferguson of Stanford University suggested yesterday that the spat between Trump and his Trade Representative Robert Lighthizer would result in a ‘weak’ and ‘inadequate’ trade deal with China.

In Parliament in Rome yesterday economy minister Giovanni Tria suggested the bail-in rules for banks should be scrapped, something put forward earlier by Italian head of banking Antonio Patuelli. Their reasoning was that the rules had never been used (so far) and that they damaged investor and savers’ sentiment. Tria added that the rules were forced on them and that the post- financial crisis economy minister had been ‘‘practically blackmailed’’ by his German counterpart into accepting them.

Financial Markets and Political Commentary
 

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