GOLD: A potential triple top at 1439? Yesterday the London Bullion Market Association insisted that the gold market..Chart/Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

Singapore economy tumbles GDP shrinks 3.4 per cent

James Dyson may or may not have paid the asking $79 million for Singapore’s most expensive penthouse this week, to get closer to his company’s new headquarters. What we do know is that data published by the Ministry of Trade and Industry today show that not only was growth well below analysts’ expectations, but Q2 growth was the weakest in a decade. Q2 GDP grew by just 0.1 per cent, dragged down by the manufacturing sector, and well below the revised Q1 figure of 1.1 per cent. This takes the quarterly seasonally adjusted rate to minus 3.4 per cent, the biggest quarterly contraction since the 4.1 per cent fall in Q3 2012.

The final forecast for the Eurozone with Christine Lagarde at the helm of the IMF does not make cheerful reading. It urges the ECB to continue its monetary easing because the Eurozone faces ‘a prolonged period of anaemic growth and inflation’. [Not quite sure what they mean about inflation as it hasn’t hit the ECB’s 2 per cent target in years.] This year’s growth is expected to come in at 1.3 per cent versus 2018’s 1.9 per cent. But then, as it’s always ‘jam tomorrow’ because it should improve to 1.6 per cent.

Financial Markets and Political Commentary
 

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