GBPUSD “The daily chart is a fractal of the weekly one, reflecting short and medium- term reality.” Chart/Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

Moody’s cuts Hong Kong’s rating by a notch
Cites government’s ‘slow’ response to months of protests

The Financial Times reports that today credit rating agency Moody’s has cut the rating of Hong Kong from Aa2 to Aa3 after months of street protests over the island’s independence. ‘’The response by Hong Kong’s government to both political demands by parts of the population and broader concerns about living standards, housing costs and equality of economic opportunities has been notably slow, tentative and inconclusive.’’ Yesterday China’s National Health Commission confirmed the first case of human-to-human coronavirus, and that staff at Wuhan’s main hospital had caught the virus.

President Trump’s impeachment hearing in the US Senate starts today while he’s at the WEF at Davos facing climate activist Greta Thunberg. Senate Majority Leader Mitch McConnell has given impeachment managers just two days to prosecute their case, present their arguments and respond to senators’ questions. Obviously the Republicans want a speedy acquittal.

Financial Markets and Political Commentary

 

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