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As already noted this morning, none of the major European stock markets fared too well yesterday. In relative terms the FTSE 100 was the best of bad bunch, but it still got pretty beaten up by the close. The index closed 99 points lower, at 8,025.77. That close was also some way below its 200 day moving average, in place then at 8,105. The low seen yesterday was set at 8,018.55 and the futures price this morning is not much above that low point right now. The push higher in UK yields this week has now seen the 10 year note rise back to almost where it was before the BOE lowered rates last week. That is right now at 4.50%. This is not a supporting factor for the index. Clearly, whilst not ruling out a rebound this morning, there is a risk the index will have a closer look at that 8k level for the first time since August, when it based out back then at 7,915. The FTSE 100 is currently priced to reopen around 8,028
So, the initial reaction to the US jobs data saw the dollar fall sharply. As reported on, that dive sent the GBP/USD above 1.28 and the EUR/USD above...
The US equity market futures are all in the green right now and pointing to a slightly higher opening in around 30 minutes. The gains look pretty...
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