GBP/USD: On the other hand, is it really worth trading cable with these muppets in Parliament? Chart/Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

Hong Kong’s highs and lows
Purchasing Managers’ Index versus extradition bill

Published this morning by IHS, August private company activity dropped again to 40.8, from 43.8 on July – well below the 50-level suggesting contraction. Not entirely surprising considering the demonstrations that have been going on for months, but caused mainly by a big drop in new orders from mainland China. This afternoon in Hong Kong rumours are swirling that Chief Executive Carrie Lam is considering formally withdrawing the very controversial extradition bill; the Hang Seng index soared by around 3 per cent.

Released this week South Korea saw its CPI annualised inflation drop to nothing, zero, zilch, a record low for a series going back to 1966. The issue is also a problem in other developed nations, Italy August Y/Y CPI is running at just 0.5 per cent – not as low as the negative 0.5 per cent in 2015 and 2016. Spain’s July CPI released last month saw it drop to 0.6 per cent Y/Y versus 0.7 per cent in June; better than the minus 1.0 per cent seen in 2009, 2015 and 2016. Meanwhile across the Eurozone producer prices grew by a meagre 0.2 per cent in the year to July.

Financial Markets and Political Commentary
 

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