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FTSE 100 BOUNCES BACK ON UK INFLATION NEWSParticipants in financial markets were closely watching yesterday the data on inflation in the UK, where it is at the highest level among the G7 countries. The news turned out to be positive: → CPI was 7.9% (forecast = 8.2%, last month = 8.7%) in annual terms; → core CPI dropped from 31-year high from 7.1% to 6.9%. Consequently: → the price of the British pound fell against the US dollar and other currencies; → the price of the FTSE 100 index rose sharply, rising from the July lows by about 5%. Thus, the quotes demonstrate the expectations of market participants — they suggest that the Bank of England has received a reason to ease the ongoing tight monetary policy aimed at suppressing inflation. The publication of the decision of the Bank of England is scheduled for August 3, and the interest rate can be raised only by 0.25%, although earlier 0.5% was called more likely. The sharp rise in the price of the FTSE 100 has led to the fact that the descending channel is broken, as is the resistance level at 7,555. It is possible that after such a sharp impulse, we will witness a consolidation period, which may be limited to the levels of 7,555 and 7,690. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:UK100
by FXOpen
UK100 Long #WaveAnalysis #UK100 FTSE100 reversed from key support level 7300.00 Likely to rise to resistance level 7550.00 FTSE100 index recently reversed up sharply after the index failed to break below the key support level 7300.00, which has been reversing the price from last November. The upward reversal from the support level 7300.00 stopped the intermediate downward impulse (C)-wave from June. FTSE100 index can be expected to rise further toward the next resistance level 7550.00 (previous minor reversal high from the end of last month).
FLong
by Daniel_Thompson
US100 and US500 Possible Counter Trend Trade OpportunityIn this video, we examine the stock indices and observe that they are approaching key resistance levels on the higher time frames (1M, 1W, 1D etc). We can observe weakness in the GE40 and FTSE, raising the question of whether the US100 and US500 will follow suit. Considering it's the end of the week, a correction is a possibility. As always, please note that everything discussed in the video is for informational purposes only and should not be interpreted as financial advice.
CAPITALCOM:UK100
by tradingwithanthony
Trials for the UK Stock Market ContinueYesterday, the head of the Bank of England, Andrew Bailey, spoke about the need to complete the work on suppressing inflation, which is now higher than in any other major country in the West. Market participants expect that at the next meeting of the Bank of England (it will be held on August 3) a new increase in interest rates will be announced. Bailey's last words boosted the value of the pound, which set a year high against the US dollar this morning. On the other hand, the stock market is dominated by negativity. The price of the FTSE 100 index is near the low of the year, while providing evidence of bear dominance for a long time: → level 7,680 has ceased to be a support, and has already worked as a resistance; → the level of 7,450 has ceased to be a support, and, perhaps, will continue to provide resistance; → having reached support around the level of 7,230, the price has not yet shown signs of a confident recovery over the past four trading sessions. This suggests that selling pressure is present and could push the FTSE 100 price down to the low of the year that was set on March 20th. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:UK100
by FXOpen