S&P: Highly unstable because it’s overbought again. Chart/Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

Minutes from Australia’s Reserve Bank Might cut interest rate again

Published this morning, Minutes from the Reserve Bank of Australia said: ’there was scope to ease monetary policy further if needed’. The key Cash Rate was cut recently to a new record low at 1 per cent. The reasoning behind the comment is because it’s keeping an eye on the slowing Chinese economy – its biggest trading partner – and house price falls which are causing a sagging in consumer sentiment.

Today at 18:00 BST at the European Parliament in Strasbourg MEPs get to vote on whether to accept the German nominee, Ursula von der Leyden, as Commission President. She needs a majority (374 votes), which are secret, there are no whips, and six in ten MPs are newly elected, according to the Financial Times.

Financial Markets and Political Commentary
 

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