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Global equities are higher across the board to start the new trading week, seizing upon positivity after the US Senate voted through a major overhaul to the US tax system on Friday evening and largely choosing to ignore the implications of the ongoing Trump-Russia FBI probe. All the while, European traders await a crucial update from Brussels later today on the progression of UK-EU Brexit negotiations. Hopes are that UK PM May will receive approval from her EU counterpart Juncker to enter the second phase, allowing both sides to begin all-important trade talks.
Unsurprisingly, US Futures are outperforming and pointing towards record highs at the open, however the stronger US dollar is also providing support to European bourses. The UK’s UK 100 is being led higher by a multitude of USD earning constituents, with the most gains coming from heavyweight Banks (HSBA, BARC, RBS), Oilers (BP., RDSb) Miners (RIO, GLEN, BLT) and select European Retailers (DGE, ABF). Offering minimal resistance are Gold Miners (RRS & FRES), RB., BATS and BAB. Germany’s DAX is up sharply thanks to EUR weakness producing gains across the board, most notably for Fresenius, Commerzbank, Deutsche Post, ThyssenKrupp and BMW, with the only major loser being ProSiebenSat.1.
The UK Index 100 is rangebound between 7350-7370. The DAX 30 has bounced from Friday’s lows of close to 12800. Dow Jones Futures are off overnight highs, however remain close to record levels of 24480. Gold has retreated towards support at $1270.
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The UK Index 100 is rangebound between 7350-7370.
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 bounced from Friday’s lows of close to 12800, holding above 13,000.
Watch levels: Bullish 13,050, Bearish 12,995
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 are off overnight highs, however remain close to record levels of 24480 after jumping 200 points higher overnight.
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 retreated towards support at $1270.
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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