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The FTSE 100 fell to below its 200 day moving average at one point yesterday afternoon. As noted that was in place at 8,079 and the index dropped to set a 8,070. However, it did not stay down there for very long and rebounded into the close, ending the session at 8,110, with a loss of 49 points on the day. The main driver for this was all about higher UK yields. The 10 year note lifted to reach 4.52% at one point. It is off that high right now this morning though, currently at around 4.44% The 200 day moving average on the FTSE 100 shifted by the time of the close last night and was in place at 8,082 then. As mentioned here yesterday, the hitherto outlook for the Bank of England to lower interest rates next week has seriously been derailed now. The potential impact of the Budget measures on UK business is very much in doubt and as you can see the markets appear to have cast judgement on that and it is not positive right now. S, the FTSE 100 is not currently priced to open higher this morning
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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