DAX “..things look unstable at current levels.” Chart/Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

Australia’s new low
Cash rate cut again to a record low 1 per cent

Just a month since the last 25 basis point trim from 1.5 per cent, where it had been stuck for 3 years, they’re at it again attempting to boost the economy and steady the housing market, reports the Financial Times. Governor Philip Lowe also hinted that there might be further cuts as ‘’the uncertainty generated by trade and technology disputes is affecting investment and means that risks to the economy are tilted to the downside’’. He also commented on inflation, where ‘’pressures remain subdued’’ but should rise to 2 per cent or more after 2020. Tool box almost empty.

Newly elected MEPs start work in Strasbourg today, including 73 from Britain (the same as Italy, France 74 and Germany 96). With Europe’s biggest left and right-leaning parties both losing a lot of ground, though remaining the largest block, anti-establishment groups including Greens, Liberals and far- right MPs will have a bigger say. Over in Brussels the EU leaders’ meeting got no further with selecting people for the Commission’s top jobs. A visibly frustrated President Macron said: ‘’Our credibility is profoundly tainted with these meetings that are too long and lead to nothing, we give an image of Europe that isn’t serious’’.

Nicole Elliott

Financial Markets and Political Commentary
 

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