GBPUSD: Picking up quite nicely from 50 per cent retracement support, suggesting dip below 1.2900 was a false break. Chart/Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

GBPUSD SHORT TERM TRADER: New long at 1.3040; stop below 1.2850. Target 1.3300.

GBPUSD POSITION TAKER: Square.

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President Trump sues the banks
To block disclosure of his financial affairs

US bank Capital One, and Germany’s Deutsche Bank are to be sued by the American President, his 3 eldest children and 7 of his companies. The unusual move aims to block subpoenas issued by the US House Committee (controlled by the Democrats) for the release of his financial records. It is estimated that Deutsche loaned more than $2 billion to Mr Trump and was, at one point, the only organisation willing to lend to the then embattled property developer.

Japan’s new Emperor, Naruhito, ascended to the throne in a quick ceremony today, ushering in the Reiwa era. The country is one of the few where calendar years are re-set and renamed, according to who’s in charge. Being the 1st May, many countries have national labour day holidays today. Late today the Fed concludes its rate-setting meeting and will issue a monetary policy statement.

Financial Markets and Political Commentary
 

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