Ashraf discusses the record highs in the Dow-30 relative to its US peers due to rallying banking stocks (JP Morgan $15 below its all time high) while technology stocks stay behind. Making the point that US employment dynamics are healthier than those in 2007 with respect to flow and trend, the case for 1600/10 in the S&P500 is solid.
Ashraf also discusses the damaged sterling following the latest manufacturing data, which show a deepening contraction in the sector. GBPUSD looks onto 1.46 as the Bank of England has yet to open a new round of asset purchases.
For the latest tradable ideas in EURUSD, USDJPY, GBPUSD, AUDUSD, EURJPY, USDCAD, CADJPY, AUDJPY, gold, silver and oil, please visit here:http://ashraflaidi.com/premium/latest
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...