DAX: Getting rather messy as we break above the neckline of the small head and shoulders..Chart/Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

Australia Q1 GDP disappoints Rolling back the years

No wonder the Reserve Bank of Australia yesterday trimmed the cash rate to a new record low at 1.25 per cent. GDP data published this morning, covering the first quarter of the year, showed that it grew by a lower than expected 0.4 per cent over the 3 months, and at an annualised rate of just 1.8 per cent. This is the slowest pace in almost a decade – 1.6 per cent in Q4 2008 and 1.4 per cent in Q3 2009.

Data published yesterday showed that inflation for the Eurozone as a whole slipped to 1.2 per cent in May, down from 1.7 per cent in April. Once again, well below the ECB’s 2 per cent target. Worth comparing with Switzerland which on Monday showed that CPI was running at a mere 0.6 per cent in the year to May 2019, and has been running under 1.2 per cent for most of the time since 2008.

Financial Markets and Political Commentary
 

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