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As covered here a few times already today, it was not a technically positive close for some of the major European stock markets on Friday. That encompassed the FTSE 100, although its opening levels do not accurately reflect the fact, that it did effectively set in place a major technical reversal, from what was a new record high on Friday. The index reached a new record, at 8,586.68. It later closed at 8,502.35, after hitting a session low, at 8,492.73. The index had closed on Thursday, at 8,565.20. This morning, the FTSE 100 futures are under a good deal of pressure, as are all the US and European futures right now. Of course technically the FTSE 100 will reopen where it closed on Friday (due to the usual way it is reported), but the effective opening is going to be a lot lower than that, currently at around 8,460, but it has been priced as low as 8,425 a little earlier today
Well, you were alerted to something rather strange going on this afternoon in Gold and since then the metal has taken another lurch lower. This time...
The US stock markets have not long reopened for the final trading session of the week. It has been a very modestly higher opening across the board...
Given the reaction in the GBP/USD and the USD/JPY after the US sales data you might easily be forgiven for thinking the EUR/USD should be above 1.05...
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