DAX: Bearish momentum increased a little on yesterday’s hanging man candle.. Chart/Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

Brexit and EU blues
One must look to the future

At 10:00 pm this evening Prime Minister Boris Johnson will deliver a pre- recorded state of the nation address. At 11:00 pm GMT, to suit Brussles’ midnight, Britain will officially no longer be the 28th state in the political block that is the European Union. The PM and his pals will be toasting the moment with classy British bubbly Nyetimber, probably in Downing Street, though the event has been deliberately kept low key. Today the Financial Conduct Authority will be looking into what may have been a leak of the Bank of England’s interest rate decision yesterday – Mike Carney’s last – and the sudden surge in the value of cable. UK newspaper are publishing special souvenir issues today.

As is so often the case, the authorities are slow to catch on and slower still when making decisions. After praising how the Chinese authorities were dealing with the coronavirus outbreak, yesterday the World Health Organisation decided to call it a public health emergency of international concern. The US and Japan have advised all their citizens not to travel to China.

Nicole Elliott

Financial Markets and Political Commentary

 

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High profile, trusted, veteran Technical Analyst with over 25 years’ banking experience. Key expertise in all areas of Treasury, especially foreign exchange, derivatives, fixed income and commodities. Acknowledged for personal contribution to new developments in the industry. Well regarded by the media for provision of accurate forecasts, succinct copy and entertaining sound bites. Thrives in dealing room environments – excellent interpersonal skills and a strong communicator with extensive business contacts. Looking for suitable and interesting opportunities.