EUR/USD: Momentum is now bearish as we re-test this year’s low. Chart/Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

German ECB board member quits
Exposing deep divisions at the Eurozone’s central bank

Sabine Lautenschlager, the only female member of the governing body’s 25- strong board (who’s worked there since 2014) suddenly quit her job. The Financial Times reveals that neither she nor any member of the board could be reached for comment, but many are suggesting it was because of the most recent round of monetary easing, one which took the key rate down another notch to minus 50 basis points, and the introduction of what’s been dubbed ‘QE forever’.

Reuters reports that a YouGov/CEBR survey published this morning shows UK consumer confidence dropping to 103.4, a six-year low. Reasons cited were worries about job security, the impact of international trade tensions, and political uncertainty. It also follows a contraction in Q2 GDP and the prospect of weak growth in Q3.

Financial Markets and Political Commentary
 

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