DAX: A fairly comprehensive rejection from this month’s highs with a bearish engulfing candle – Chart/Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

Japan raises sales tax to 10 per cent A long-delayed and feared move

From 8 per cent to 10 per cent sounds very little by EU standards, but the last 2 times the rate was raised – to 5 per cent in 1997 and 8 per cent in 2014 – it caused an economic recession and depressed consumer sentiment. There was a small rush on Monday to beat the move which came into force yesterday, as initially advertised. With the country already suffering the side- effects of President Trump’s trade war and their dispute with South Korea, the leading composite index is already well below 2014 and 2007 peaks.

Yesterday Dutch farmers drove their tractors into The Hague and Scheveningen beach protesting victimisation in the climate change debate; they caused tailbacks over 1136 kilometres of roads around the city at morning rush-hour. The government has proposed speed reductions to cut pollution, inefficient beef farms to be closed permanently, and the halving of pig herds and poultry flocks. Agricultural workers feel moves by Dutch MPs have been encouraged by city-dwelling activists who have spared the airline industry in the fight to meet climate change targets.

Financial Markets and Political Commentary
 

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