Neither Russian nor other depositors in Cyprus must receive Cyprus announcement to tax bank accounts as a surprise as these warnings emerged back in December from Germany --at a time when the media was busy with the US Fiscal Cliff and Greece's successful bond swap operation.
Gold vs USD breaks its first 5-month string of losses (longest since 1997) and may be targeting 1625-28 before month-end. Yet, the faster-momentum pattern is in Gold vs. EUR; breaking an 18-week downward trendline and highlights similar upside as in May 2012 (Greek election impasse) and Nov-Dec 2011 (Italy debt selloff and political uncertainty). As the ascending weekly stochastics gain in strength, we could well see a break above the 100-WMA of 1250 and an extension towards 1,285. In order for EURUSD not to lose support below 1.2820-30, we will have to see a follow-up in Gold/USD towards 1645/50.
Here is a DM sent via Twittter to select clients on Monday, alerting them of the upcoming DOW30 trade. The trade was issued to all Premium subscribers later that afternoon via email, Twitter, SMS and Telegram to (Arabic clients). Have a nice weekend.
After Theresa May
Now that PM Theresa May has announced stepping down from the Conservative Party leadership as of June 7, the ongoing political chaos will shift temporarily from striking a deal on the Withdrawal...