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The United Kingdom general election took place on 8 June 2017 after British PM called a snap election for a mandate to negotiate its Brexit deal with EU. Each of the 650 parliamentary constituencies elected one Member of Parliament to the House of Commons, the lower house of Parliament. The result of the Election gave a hung parliament without any single party getting more than 50% of the seats. Conservative party came first with 318 seats which is 48.9% . It will form the government in coalitio…
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Buying the Pullback?
With the Brexit panic subsiding , the GBP/USD could finally find a bottom. On the 4 Hour chart below we see an interesting formation. We were in an upward trend which then stalled on some post-Jackson Hole Dollar gains. But now we're moving back up again. This could be a classic buy the pullback opportunity.
Another reason why more gains may follow is the oversold situation in Cable. On the weekly chart below we can see how unrelenting and one-sided the selling has been since 2014. We're now dow…
Another reason why more gains may follow is the oversold situation in Cable. On the weekly chart below we can see how unrelenting and one-sided the selling has been since 2014. We're now dow…
The US deal, and concerns by holders of its debt
So, at last we have a deal of sorts. In truth, it doesn’t solve any issues, it merely reflects huge pressure to free up government spending, and short term, ensure that America pays its external obligations to its creditors. This sad chapter is obviously not at an end, and we face the spectre of more government by crisis over the course of the next few months. Bad as this is, short term, the long term damage done to US credibility and standing in the world is much more worrying.
At the moment, t…
At the moment, t…
G20 SUMMIT: Britain plunged into diplomatic row over claims GCHQ
G20 summit: Britain plunged into diplomatic row over claims GCHQ spied on foreign politiciansIntelligence services were even said to have set up internet cafés at the summit venues which they used to read emailsBritain was plunged into a diplomatic row last night following claims that foreign politicians and diplomats were repeatedly spied upon when they attended two G20 summit meetings in London.The allegations provoked anger in Turkey, Russia and South Africa, whose dignitaries were reportedly…