The rebound in ‘Chip Company Shares’ was short-lived and most of the recovery gains were wiped out again overnight. Clearly there is a major problem in this sector, with overvaluations and circular investment, a major concern for investors. The Middle East calmed again, following the weekend kinetic exchanges and the tenuous peace appears to be reenacted. German trade numbers remain positive, although showing signs of deterioration, while Industrial Production contracted. The US Dollar held onto recent gains, with the EUR trading 1.1540, while the GBP edged up to 1.3380.The powerful reserve dominates the commodity currencies, with the AUD battling to hold 0.7000, while the NZD showed resilience above 0.5800. Australian Consumer and Business Confidence data was negative and weaker than expected. Inflation and growth data remain the flavour this week.
