EUR/USD. “..merci Macron because it reminds Brexiteers why they voted and remainers why the EU needs Britain.” Chart & Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

EUR/USD SHORT TERM TRADER: Cut myself out of long position at a small profit.

EUR/USD POSITION TAKER: Square.

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Beijing banks on stimulus
Tax cuts and infrastructure spending

CNBC reports that yesterday Chinese Premier Li Keqiang announced stimulus measures worth nearly $300 billion because economic growth has slowed and might even drop to 2 per cent. The authorities have also lowered their GDP growth forecast to between 6 and 6.5 per cent for this year. Domestic industries should be the biggest beneficiaries of this largesse and any growing discontent among the middle class is hoped to be quashed.

Australian Q4 2018 GDP missed expectations by growing just 0.2 per cent versus Q3’s 0.3 per cent, taking the annual rate of economic expansion to 2.3 per cent from 2.8 per cent in the previous quarter; consumer spending and construction were largely to blame. The data flies in the face of Reserve Bank of Australia’s forecast of 3 per cent GDP growth this year – the 27th consecutive year the country has been recession-free.

Financial Markets and Political Commentary
 

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