DAX: Back up at this month’s highs while the MACD remains bearish..Chart/Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

China National Day holidays in Hong Kong and the mainland Both bristling with military hardware

The traditional show of military might and government cohesion in Tiananmen Square this morning as mainland China celebrates 70 years of communist rule. Apparently the biggest of its kind ever, estimates put the turnout at 15,000 troops, 580 armoured tanks, 160 war planes and the world’s longest- range nuclear missile, according to the Financial Times. Over in Hong Kong more, classified as ‘illegal’, protests are expected as people march for democracy in a state where inequality is at its highest in 45 years.

Today the Reserve Bank of Australia again cut its key Bank Rate by another 25 basis points to a new record low at 0.75 per cent. This, after the economy grew in Q2 2019 at its slowest pace in a decade. Governor Philip Lowe said the move was ‘’to support employment and income growth and to provide greater confidence that inflation will be consistent with the medium-term target’’.

Financial Markets and Political Commentary
 

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