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Equities are mixed this morning, reacting to a skinful of corporate updates and a dovish Fed chaser. Whilst the former offers a cocktail of mixed messages, the latter is producing both help and hindrance by way of a weaker USD (good for commodities, but strengthens GBP & EUR), seeing the UK UK Index hold flat but German DAX nurse losses.
The UK UK 100 is flat thanks to gains for Diageo (results, guidance upgrade, share buyback), BATS & Shell (H1 results), AAL & RIO (AAL dividends resumed) offsetting heavy losses of AZN (drug trial failure), GSK (AZN read-across), LLOY (more PPI provisions!) and SSE (ex-div).
Germany’s DAX is underwater due to EUR strength and losses for Deutsche Bank (Q2 revenue miss), Bayer (profits warning) and Deutsche Boerse (digesting yesterday’s results, low vol environment, new trading probe) eclipsing gains for Allianz (profits up), E.ON and Vonovia (both benefit from lower interest rates).
The UK Index 100 trades off its lows but has yet to test our 7465 bullish watch level. The DAX 30 has broken below yesterday’s 12250 lows. Dow Jones Futures have pulled back from fresh record highs but remain in a 4-day uptrend. Gold is holding above the $1259 breakout after last night’s Fed update pushed the USD lower.
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The UK Index 100 trades 7440-7460, off its lows, but yet to test our 7465 bullish watch level from this morning.
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 broken below yesterday’s 12250 lows to revive its 2-week downtrend.
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 pulled back from fresh record highs but remain in a 4-day uptrend and above last night’s 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.
Click here for help with Support & Resistance Click here for help with technicals
Gold’s is holding above the $1259 breakout after last night’s Fed update pushed the USD lower.
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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