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Global equity markets are hovering around breakeven ahead of the US open, with Germany’s DAX the notable exception in the red. Despite rising tensions in the Korean peninsula ahead of a joint US-South Korean military exercise, safe-havens are little changed, whilst with a dearth of macro data, focus will likely shift to the White House as the Trump administration begins its first week without Steve Bannon, widely seen as the driver of nationalism from within the Oval Office. The President is set to give a speech on the future of US policy on Afghanistan, but can he avoid another raucous confrontation with members of the press after Bannon’s departure?
The UK 100 sees Miners (commodities rally) and Defensive sectors Tobacco and Consumer Staples (weak Sterling) square off against Banks and Pharmas (risk-off sentiment/continued sector weakness) at the bottom of the performance table. As noted above Germany’s DAX underperforms, with Thyssenkrupp weighing following Australian peer Bluescope Steel’s profits warning earlier this morning, offsetting a strong performance from Lufthansa.
The UK Index 100 is falling from resistance at 7335 having survived an early test of 3-month 7300 support. The DAX 30 has failed to capitalise after also surviving a test of multi-month support at 12,100. Dow Jones Futures are virtually flat, holding above support at 21,680. Gold is attempting a second challenge of $1289.5 resistance.
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The UK Index 100 is falling from resistance at 7335 having survived an early test of 3-month 7300 support.
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 failed to capitalise after also surviving a test of multi-month support at 12,100.
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 virtually flat, holding above support at 21,680.
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 is attempting a second challenge of $1289.5 resistance, however has yet to make any headway.
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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