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Equities are flattish as investors adopt their usual wait-and-see approach ahead of the 1.30pm US jobs report. However, focus will be less on jobs and more on wage growth (forecast a shade slower in Feb) because it was a Jan jump in this metric which fuelled the Feb sell-off amid concerns that the Fed might over-tighten policy in anticipation of inflation, risking the economic recovery. Traders are also digesting US trade tariffs (DAX under-performing due to no news on EU exemption), China inflation and the potential for a welcome North Korean nuclear detente.
A flat UK 100 shows positive contributions from BLT (reports of $10bn offer for shale assets, rebound from ex-div, China inflation, bounce off 200-day MA), NMC, SHP, AV (post-results rebound, breakout) and AAL (China inflation). Holding the index back are RDSB (Shell may bid for BLT shale assets), RBS, WPP (reduced ad spend) and VOD (pullback after breakout).
The UK Index 100 is holding its break above 7185. The DAX 30 is holding its break above 12275. Dow Jones Futures are flat around 24900. Gold has bounced from $1317 to test falling highs resistance.
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The UK Index 100 is holding its break above 7185.
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 holding its break above 12275
Watch levels: Bullish 12,325; Bearish 12,275
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 flat around 24900
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 bounced from $1317 to test falling highs resistance.
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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