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  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.96%, while traders in France 40 are at opposite extremes with 79.08%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/UTedfJSFZu
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  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: France 40: 0.81% FTSE 100: 0.46% Wall Street: 0.44% US 500: 0.34% Germany 30: -0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/NY5gnFSnWv
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  • Coming up at half past the hour. I'll be analysing the charts, looking at the confidence data on the calendar this week and talking about the IG client sentiment numbers. Do join me if you can https://t.co/nm3tP1xRmA
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  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.65%, while traders in France 40 are at opposite extremes with 77.78%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/mhS5GPlzBU
UK and Italian Politics in Focus for FTSE 100 and MIB | Webinar

UK and Italian Politics in Focus for FTSE 100 and MIB | Webinar

Justin McQueen, Analyst

Equity Analysis and News

  • Italian risk premium on the rise
  • Tory press conference takes center stage for UK assets

Price

50DMA

100DMA

200DMA

RSI

IG Sentiment

Europe

FTSE 100

7429

7574

7611

7486

46

Mixed

DAX

12434

12378

12499

12494

60

Bullish

CAC 40

5494

5409

5407

5370

64

Bullish

FTSE MIB

20623

20949

21395

22180

40

-

US

S&P 500

2937

2867

2815

2755

67

Mixed

DJIA

26751

25785

25289

24961

76

Mixed

Nasdaq 100

7594

7461

7330

7048

57

-

FTSE MIB

Italian politics likely to be the key driver for the FTSE MIB next week with markets looking for a response from the EU regarding Italy’s budget proposal to have a deficit target at 2.4%/GDP, which is far beyond preferred target of the European commission. As BTP-Bund spreads widen to YTD highs, Italian banks are likely to be the most affected stocks in the FTSE MIB, consequently keeping the index pressured for the week ahead.

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

UK and Italian Politics in Focus for FTSE 100 and MIB | Webinar

FTSE 100

Domestic politics takes focus with the Conservative Party Conference (Sunday-Wednesday). Following the unsuccessful Brexit meeting in Salzburg, Brexit optimism has subsequently faded. As such, market participants will be placing a keen eye on the party conference, however, judging by the past two party conference’s, GBP may find itself on the backfoot (Fallen an average 1% post-conference), which in turn could see the FTSE 100 find some support in the coming week. A break and close above 7535 increases scope for a move towards 7650.

FTSE 100 Price Chart: Daily Time Frame (December 2017-September 2018)

UK and Italian Politics in Focus for FTSE 100 and MIB | Webinar

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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