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Equities are mixed for a third straight day, investors digesting a slightly less hawkish assessment from the US Fed, which sent USD lower and thus GBP and EUR higher, and preparing for the latest policy updates from the Bank of England and European Central Bank (no change expected, focus on outlook). Sentiment nonetheless supported by solid macro data from China overnight and upside surprises for both UK Retail Sales and Eurozone PMIs.
The UK UK Index is just offside as losses for HSBC/LLOY/STAN (profit taking), BATS/IMB/GSK (stronger GBP), ABF (ex-div + stronger GBP), RDSb (lower oil), and RB (consolidating) overpower gains for BT (UBS upgrade), Prudential (resuming rebound) and RIO/GLEN/BLT (solid China data).
Germany’s DAX is also lower due to bigger losses for both Fresenius Medical & Merck (broker report – Kepler 2018), Deutsche Boerse (Mifid II fears?), Infineon (broker outlook), as well as general index weakness, trumping limited gains for the likes of E.ON and RWE (defensives).
The UK Index 100 is making a bearish test of Tuesday’s 7475 breakout. The DAX 30 is continuing to retrace towards 12900. Dow Jones Futures have extended their rising channel to fresh record highs. Gold has extended its bounce to $1260 on USD weakness.
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The UK Index 100 is making a bearish test of Tuesday’s 7475 breakout.
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 is continuing to retrace towards 12900
Watch levels: Bullish 13,070; Bearish 13,035
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 extended their rising channel to fresh record highs
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 has extended its bounce to $1260 on USD weakness.
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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