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Indices are mixed again with the UK UK Index taking its turn as outperformer thanks to Sterling pulling back versus both the Dollar and Euro. A BoE rate hike, to reverse last summer’s referendum-inspired cut, is all but priced in and a muddy Brexit outlook means no particularly hawkish undertones expected, despite persistently above-target inflation. Markets are also on tenterhooks ahead of Trump’s announcement of the next Fed Chair, expecting J Powell to maintain Yellen’s path of post-crisis policy normalisation.
The UK 100 gains thanks to positive contributions from BATS (weak GBP), RDSb (results), VOD (pref over BT), NG (bounce from lows), STAN (bounce after sell-off), PRU, RIO, SHP and BARC, overpowering negative contributions from BT (results), GLEN (base metals weak), RRS (results), BP (oil paused, pref for RDSb) and AZN.
Germany’s DAX underperforms, with 20 of its 30 components in the red, and standout gains for Deutsche Bank (Credit Suisse results read-across) being offset by losses for Infineon Tech (profit taking).
The UK Index 100 has extended its bounce from 7450 to regain 7510. The DAX 30 has edged back from yesterday’s flirt with a new 13500 record. The Dow Jones Futures have bounced off twin rising support at 23350. Gold is back from another upside test of $1280.
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The UK Index 100 has extended its bounce from 7450 to regain 7510.
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 has edged back from yesterday’s flirt with a new 13500 record.
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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Dow Jones Futures have bounced off twin rising support at 23,350.
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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Gold are back from another upside test of $1280.
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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