GBPUSD: Biggest daily rally in months yet there is massive divergence as the MACD & momentum are still bearish. Chart & Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

Accountancy regulator scrapped Declared ‘toothless’

Following a review of the Financial Reporting Council’s operations by Sir John Kingman, the government announced yesterday that the organisation will be axed and that a new overseer will replace it. The Department for Business, Energy & Industrial Strategy said the new unit will be called the Audit, Reporting and Governance Authority and will implement 48 recommendations suggested by Kingman. Some have suggested the exercise is merely rearranging the deckchairs while I would add that, as we’ve seen with the Financial Services Authority which was replaced by the Financial Conduct Authority, I’m not sure that they can get the staff.

Today the World Wide Web is 30 years old and its creator, Sir Tim Berners- Lee, is popping in for a little party at Downing Street. Organised by Jeremy White, secretary of state for digital, culture, media and sport, leaders in the British tech industry have been invited. Am wondering whether the PM will have time to pop in ahead of another ‘meaningful vote’ in Parliament this evening.

Financial Markets and Political Commentary
 

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