GBPUSD “..sterling is making a mockery of all too many money managers’ so-called carefully laid plans.” Chart & Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

GBPUSDSHORT TERM TRADER: Long at 1.3290; stop well below 1.3200. Target 1.3600.

GBPUSD POSITION TAKER: Square.

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Australian house prices catch up with reality Biggest slump in current methodology

Data published this morning show that in Q4 2018 Australian house prices across the nation fell by 2.4 per cent Q/Q for a record annualised decline of 5.1 per cent (with data since 2004). The drop is equivalent to AU$133.1 billion and makes the chance of any rate rise in the Cash Rate from the current record low 1.5 per cent unlikely. Sydney has taken the biggest hit with real (adjusted for inflation) house price falls since the June 2017 peak of 16 per cent.

This week Italy is expected to be the first G7 country to sign a non-binding Memorandum of Understanding with China’s $900 billion new Silk Belt & Road plan, said Michele Geraci, undersecretary of state for economic development. This aims to extend Chinese influence through Asia into Europe and Africa. Despite European Union misgivings, Palermo looks set to be an important port on the route. President Xi is due a visit to Rome next week.

Financial Markets and Political Commentary
 

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