DAX: A tiny little doji at a new high for this year in a very overbought market is not exactly what one wants to see. Chart & Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

DAX SHORT TERM TRADER: Square.

DAX POSITION TAKER: Square.

Danske Bank probe to continue
Despite the European Banking Authority’s rejection

Danske Bank’s Estonian branch had been investigated because of allegations it had funnelled €200 billion of dirty money into the European Union. This was being investigated by the European Banking Authority which abruptly closed the case late last week, rejecting the findings of its own draft report. Cue uproar from the European Commission, justice commissioner Vera Jourova saying, ‘’the case of Danske Bank is not closed for us, regardless of the decision of EBA. It is important that supervision at national level is effective and fully in line with EU law’’. The case highlights deficiencies in the system as national watchdogs at the EBA don’t want to criticise each other.

Inward investment into Britain in 2018 was $1.9 trillion, putting it in third place after the US and China. This is more money than poured into Germany, Spain and Poland put together, City AM reports. Trade secretary Liam Fox commented, ‘’international investors continue to recognise the fundamental strengths of our economy – everything from our predictable legal system to our world-leading financial services’’.

Financial Markets and Political Commentary
 

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