News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Real Time News
  • 🎯 Bitcoin extending its surge through the weekend to trade back above $35K. Seeing some serious upward momentum here, but in light of Fed event risk this week, it may be prudent for short-term tactical traders to consider unwinding exposure a bit. #Bitcoin $BTC $BTCUSD https://t.co/OZjpMGIINQ https://t.co/3miq9M8YS9
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out https://t.co/c51s3ISNw2 https://t.co/3y2qs4VDuu
  • RT @FxWestwater: Asia AM - New Zealand Dollar Outlook: $NZDUSD Breakout Chance Shifts Into View https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2021/07/25/New-Zealand-Dollar-Outlook-NZDUSD-Breakout-Chance-Shifts-Into-View.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr https://t.co/OIRR1…
  • Are you new to trading? Technical analysis of charts aims to identify patterns and market trends by utilising different forms of technical chart types and other chart functions. Get a refresher on technical analysis or begin building your knowledge here: https://t.co/qV3c7a4YR3 https://t.co/2Qka1WPhnE
  • Entry orders are a valuable tool in forex trading. Traders can strategize to come up with a great trading plan, but if they can’t execute that plan effectively, all their hard work might as well be thrown out. Learn how to place entry orders here: https://t.co/1mnOXUuBpt https://t.co/kloJCFmJty
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here: https://t.co/vg7w10la3j https://t.co/wwxKQFibW6
  • *Reminder: Weekly Strategy Webinar tomorrow morning at 8:30am EST on DailyFX! A look at the levels heading into #FOMC - https://t.co/lxd5fZnn4H
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here: https://t.co/8A1QhwMVKo https://t.co/Nx6AHxZksK
  • Markets Week Ahead: Euro, Dollar, Gold, S&P 500, Earnings, Inflation Check out @RichDvorakFX's latest market recap and preview plus all the weekly forecasts from the @DailyFXTeam at the link below! Link to Analysis - https://www.dailyfx.com/forex/fundamental/forecast/weekly/title/2021/07/25/markets-week-ahead-euro-dollar-gold-sp500-fed-earnings-inflation.html $EURUSD $SPX #Trading
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here: https://t.co/rfwUWJfbz9 https://t.co/xKkBwu951j
FTSE 100 & S&P 500 Fundamental Forecast

FTSE 100 & S&P 500 Fundamental Forecast

Justin McQueen, Analyst

Equity Analysis and News

  • FTSE 100 Posts Worst Monthly Performance Since October 2018
  • S&P 500 Eyes Key Data Releases in the Form of ISM and NFP
Equity Index Performance Chart

Source: Thomson Reuters, DailyFX

FTSE 100 | The index posted its largest decline since October 2018, having underperformed its counterparts with monthly losses of 4.8%. While escalating trade tensions between the US and China weighed on the index from the beginning of the month, the recent uptick in GBP from its 2yrs lows has also pressured the FTSE 100. Looking ahead, Brexit induced volatility will once be on the rise as MPs return to parliament. Following UK PM Johnson’s move to suspend parliament from mid-September to October 14th, a backlash from opposition parties has raised the risk of a no-confidence vote in the government. That said, with the Pound expected to be the most volatile currency next week, sizeable fluctuations can be expected in the FTSE 100.

FTSE100/FTSE250 Correlation with GBPUSD Chart

Aside from Brexit, focus will also be placed on the upcoming UK PMI survey’s in which expectations are for a marginal gain, therefore signaling a potential bottom in the recent weakness observed over Q2.

UK Markit PMI

S&P 500 | Data Heavy Week as ISM and NFP are Released

Following the relatively robust regional PMI figures, risks are modestly tilted to the upside for the ISM Manufacturing PMI, in which a better than expected figure could see recessionary fears ease somewhat, thus keep the S&P 500 elevated. Topside resistance is situated at 2940-60 in which a close above could see the index on course for a test of the 3000 level. Elsewhere, while the NFP report typically garners attention, given that the Fed have placed less emphasis on the job market when providing an outlook for interest rates, the impact has been somewhat diminished in recent months with the exception of sizeable deviations from market consensus.

Regional PMI

  • Chicago PMI 50.4 (Prev. 44.4)
  • Richmond Fed Mfg. 1 (Prev. -12)
  • Philly Fed Mfg. 16.8 (Prev. 21.8)
ISM and FED Manufacturing Chart

RESOURCES FOR FOREX & CFD TRADERS

Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at Justin.mcqueen@ig.com

Follow Justin on Twitter @JMcQueenFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES