GBP: Fool’s Gold

RUB: More OFZ issuance — It looks like the Russian Finance Ministry is taking advantage of the current favourable sentiment and front-loading a lot of OFZ issuance. Today sees another unlimited auction of 2024 and 2030 OFZs. Foreign appetite has been good and while these flows may temporarily support the rouble, we stick to the view that a less favourable balance of payments environment over coming months could send USD/RUB to 66.

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Dax Index Live Trading Tips – Below 12000 Big Downside Expected – Neal Bhai Reports

DOW JONES, DAX 30 AND NIKKEI 225 FUNDAMENTAL FORECAST

In a series of Tweets last Sunday, President Trump called into question the likelihood of a US-China trade deal – sending global equities tumbling as risk aversion spiked. With the benefit of hindsight, we now know such a deal was not made, and US tariffs on $200 billion in Chinese goods jumped to 25% from 10%. The increase will likely see trade wars pose a considerable headwind to future equity strength until an agreement is made.

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