Article by IG Senior Market Analyst Axel Rudolph FTSE 100, DAX 40, and S&P 500 Analysis and Charts FTSE 100 capped by resistance The FTSE 100 has seen six consecutive days of gains, on Thursday driven by energy and health care stocks, but has come off the 200-day simple moving average (SMA) at 7,650 as
RAND TALKING POINTS & ANALYSIS Decline in US Treasury yields sustaining rand upside as PPI’s push higher. Attention n shifts towards FOMC minutes and Fed officials. Rising wedge support being eyed by ZAR bulls. Want to stay updated with the most relevant trading information? Sign up for our bi-weekly newsletter and keep abreast of the
Article by IG Senior Market Analyst Axel Rudolph FTSE 100, DAX 40, S&P 500 Analysis and Charts Download our Brand New Q4 Equity Forecast for Free Recommended by IG Get Your Free Equities Forecast FTSE 100 rallies on dovish Fed view The FTSE 100 has seen four consecutive days of gains as more and more
UK: The BoE kept interest rates unchanged at the last meeting. The central bank is leaning more towards keeping interest rates “higher for longer” but it kept a door open for further tightening if inflationary pressures were to be more persistent. Key economic data like the latest employment report showed a very high wage growth
S&P 500, SPX, NASDAQ 100, NDX – OUTLOOK: The S&P 500 index and the Nasdaq 100 index have rebounded from key support. Oversold conditions, light positioning, and positive seasonality raise the bar for a material downside from here ahead of the upcoming earnings season. What are the outlook and the key levels to watch in
Last Friday, the NFP report massively beat forecasts with 336K jobs added against 170K expected. The unemployment rate remained unchanged at 3.8% and average hourly earnings were a touch lower. Overall, the market viewed it as a good release with the soft-landing narrative prevailing. Over the weekend, Hamas launched a big attack against Israel which
Whether you like the price action or not, the technicals in the EURUSD told the story for the price action. Initially, the price moved sharply lower after the stronger-than-expected nonfarm payroll add. That move took the price to a key support level at 1.0483. I’ve outlined that level as a key downside target to get
© Reuters Investing.com – The U.S. dollar traded higher Friday, on course for another positive week, ahead of the release of the monthly U.S. nonfarm payrolls which could influence Federal Reserve thinking. At 03:40 ET (07:40 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.2% higher at
Gold and Silver: Near-Term Technical Update Gold and silver prices take a breather from losses This is allowing support levels to be reinforced What are key levels to watch in the event of breakouts? Recommended by Daniel Dubrovsky Get Your Free Gold Forecast XAU/USD Analysis In recent days, gold and silver prices have pressed the
The miss in the ADP report yesterday gave the market a bit of relief after a series of strong economic data like Jobless Claims, ISM Manufacturing PMI and Job Openings. The ISM services PMI has also printed bang on expectations, and coupled with the other reports, supports the soft-landing narrative. Moreover, the market was also
