EURUSD Very oversold, yet would you want to catch this falling knife? Chart/Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

A Tale of two Countries Germany versus the UK

Earlier this week Britain announced that its economic growth in Q4 2019, as measured by GDP, was zero and +1.1 per cent Y/Y versus up 1.2 per cent annualised in Q3. Not good, but maybe not as bad as feared considering the political background. Today Germany published its data for the period, showing there was no growth what-so-ever in Q4 2019 and that the annualised rate of growth was a mere 0.4 per cent. The Financial Times estimates that this will drag down growth in the Eurozone to its slowest in 7 years.

French car-maker Renault’s results today showed an annual loss of €141 million as the contribution from its tie-up with Japan’s Nissan fell and Chinese joint ventures struggled. This is its first loss in 10 years, it has reduced its operating margin to 3-4% for the coming year, slashed its dividend and warned that demand for cars was volatile. In China vehicles sales fell by an annualised 20 per cent in January and are expected to drop even more in February.

Financial Markets and Political Commentary

 

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