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FTSE 100 Weekly Look Ahead: US-China Trade Wars Renew FTSE Selling

FTSE 100 Weekly Look Ahead: US-China Trade Wars Renew FTSE Selling

2018-09-17 08:00:00
Justin McQueen, Analyst
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FTSE 100 Analysis and News

  • Trade Jitters to Renew Pressure on FTSE
  • UK Data in Focus: Inflation (Wed)

Price

50DMA

100DMA

200DMA

RSI

IG Sentiment

FTSE 100

7304

7574

7611

7486

46

Mixed

Trade Jitters to Renew Pressure on FTSE

After two weeks of outflows, the FTSE 100 saw its largest weekly gain since mid-July of 0.3% with a lack of new development surrounding the trade providing a reprieve for equity markets. However, reports late on Friday sessions stated that the US are looking to place $200bln worth of tariffs on Chinese goods as soon as this week. Consequently, this could renew pressure on equity markets as investors seek safer assets with the FTSE 100 possibly printing a fresh 5-month low.

FTSE 100 Weekly Look Ahead: US-China Trade Wars Renew FTSE Selling

Source: Thomson Reuters

UK Data in Focus

The main economic data point this week, will be the UK inflation report on Wednesday in which the headline figure is expected to drop slightly to 2.4% from 2.5%. Although, inflation will remain above the Bank of England’s 2% target, the fall in inflation subsequently reduces the necessity for the central bank to tighten monetary policy. As reminder, the BoE last week left monetary policy unchanged with the outcome regarding Brexit likely to be the biggest influence on the BoE’s monetary policy path.

FTSE 100 Price Chart: Daily Time Frame (January-September 2018)

FTSE 100 Weekly Look Ahead: US-China Trade Wars Renew FTSE Selling

Chart by IG

KEY TRADING RESOURCES:

--- 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.

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