The UK stock-market was lower this week
- despite the deteriorating relationship with the EU with Boris Johnson’s government determined to push ahead with its plan to rewrite the withdrawal agreement.
- The Pound fell hard with the EU threatening legal action as tensions rose
- The ECB left its key interest rates and the size of asset purchases unchanged, as expected, and reiterated that it stands ready to make adjustments to its tools when needed.
- Our Breadth Indicator stayed negative and our Momentum indicator, although still positive, ticked lower again.
The US stock-market was lower this week
- with the technology-heavy Nasdaq index hit the worst. Profit taking and frustration at the lack of progress in talks to agree a new stimulus package were most likely to blame.
- News that Astrazeneca had suspended trials of its coronavirus vaccine also weighed on sentiment, although the company (with Oxford University) announced over the weekend that the trials were resuming.
- Our Breadth Indicator turned neutral this week but our Momentum Indicator, although still positive, ticked down again.
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