- The UK stock-market was higher last week with sentiment remaining optimistic on global recovery although the eurozone economy slipped back into technical recession after the release of GDP data (subject to revision).
- The World Health Organization said the threat from the coronavirus “remains present” in Europe.
- At the end of the week, Chinese PMI data indicated a larger-than-expected contraction.
- Our Breadth indicator stayed positive and our Momentum Indicator, ticked higher again.
- The US stocks-market was flat last week, with the Technology sector under-performing.
- US Federal Reserve kept interest rates close to zero and the rate of monthly asset purchases at $120 billion. Fed chair Jerome Powell said that now was not the time to be making changes as “Risks to the economic outlook remain”.
- Data indicated the US economy grew more than 6% in the first-quarter, but this was a little less than forecasted.
- Our Breadth indicator stayed positive and our Momentum Indicator ticked higher.
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This communication is not intended as a recommendation to invest in any particular asset class, security or strategy. Regulatory requirements that require impartiality of investment/investment strategy recommendations are therefore not applicable nor are any prohibitions to trade before publication. The information provided is for illustrative purposes only, it should not be relied upon as recommendations to buy or sell investments.’