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FTSE 100 futures unimpressed by UK CPI data

Yesterday the FTSE did test the 7,700 level, but essentially that price point capped the downside. The actual low was set at 6,699, but that did not constitute any kind of break. So, the index rebounded into the close, where it later ended the day at 7,738, with a rise of just 15 points on the day. The gains in the DAX helped that close and later on, the higher US closes have helped to keep the FTSE futures near its closing levels this morning. However, following the release of the latest UK CPI data, the FTSE futures have not reacted positively and perhaps that is a concern. This data will not be enough to force the hand of the Bank of England on Thursday and that is why the FTSE future has not lifted after that report. The index is currently priced to reopen at 7,733

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