DAX POSITION TAKER: New short at 11550; stop above 11825. Target 11000. Chart & Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

DAX SHORT TERM TRADER: Short at 11600; stop well above 11800. First target 10800.

DAX POSITION TAKER: New short at 11550; stop above 11825. Target 11000.

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Nothing doing in 2019
Says the US Federal Reserve

Following its two-day rate-setting meeting in Washington, yesterday Jerome Powell, head of the US central bank, not only kept the Fed Funds target unchanged (2.25-2.50 per cent), as expected, but said it was probably going to stay there until year-end. This is a sooner than expected end to the process which began in 2015 aiming to get interest rates back up to more ‘normal’ levels. He added that the rate at which it would trim its holdings of Treasury paper would slow. Forecasts for this year’s economic growth, inflation and unemployment were trimmed.

Yesterday in Brussels Hungary’s Fidesz party was voted out, by 190 to 3, of the European People’s Party, the umbrella for pro-European Christian Democrats at the European Parliament. Headed up by right-wing Prime Minister Viktor Orban, it is a move to counter his disregard for the rule of law. The vote means Fidesz will be banned from all the EPP’s meetings, lose all voting rights, and generally have no say in policy. Today and tomorrow in Brussels all 28 European Union leaders meet with Brexit front and centre. No doubt they’ll hold talks late into the night to prove just how hard they’re ‘working’.

Financial Markets and Political Commentary
 

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