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Equities are holding this morning’s gains as investors await the latest US jobs report and its impact on market expectations for US growth and, perhaps more importantly, the timing of Fed’s next rate hike. Eurozone PMI Manufacturing prints have been solid and largely supportive of recent risk appetite.
The UK 100 is being helped by contributions from GLEN & RIO (China PMI Manuf, buoyant copper), Shire/AZN/GSK (all extending bounces), DGE (peer results, broker updates). At the tail end are BT and RDSb (lower oil price). Germany’s DAX is outperforming thanks to a weaker EUR, being led higher by the likes of Lufthansa, Infineon Tech, Deutsche Boerse and Adidas put on 1.5% or better while Deutsche Bank and Linde offer a limited drag.
The UK Index 100 has broken above 7440, meaning potential for a bullish triple bottom to 7600. The DAX 30 rebound is fast approaching 2.5-month falling highs resistance at 12165. Dow Jones Futures have extended their rebound and breakout beyond 22000. Gold has paused at $1320. Topped out or bullish flag?
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The UK Index 100 has broken above 7440, meaning potential for a bullish triple bottom to 7600. A strong US jobs report later could help, sending USD higher and GBP lower.
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
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The DAX 30 rebound is fast approaching 2.5-month falling highs resistance at 12165. A weak US jobs report later could hamper, sending USD lower and EUR higher.
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
Click here for help with Support & Resistance Click here for help with technicals
Dow Jones Futures have extended their rebound and breakout beyond 22000. A strong jobs report could help the index higher.
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
Click here for help with Support & Resistance Click here for help with technicals
Gold has paused at $1320. Topped out or bullish flag? A weak US jobs report could send USD lower to help the precious metal higher.
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
Click here for help with Support & Resistance Click here for help with technicals
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