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FTSE 100 and DAX rotation comes to mind now
Since the previous update here noted the positive reaction in the DAX to the better than forecast ZEW index, it has tested the 18k level. So far that has capped the topside though. Meanwhile, over in the FTSE 100, the price action has been in the opposite direction. The FTSE 100 is now approaching session lows as it falls dangerously close to the noted 7,700 support. So, what can we gleam from this differing price action? The answer is simple- potential rotation out of UK stocks and into German ones. That is not 100 percent a cast iron conclusion, but it sure looks like it right now.
Market News
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EUR/GBP pushes to highest level since April leading into the 4pm London Fix
The major FX markets are still very much rangebound this afternoon ahead of some key data events over the next couple of days. That said, the EUR/GBP...
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US stocks open modestly but not the Nasdaq 100
The US stock markets have just reopened and it has been a lower start to the first live session of the week, but certainly not as low as priced into...
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EUR/USD again balks at 1.1700
The rebound in the EUR/USD this morning took it back very close to the 1.1700 handle again. However, it could not get above that level and in fact...
