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.

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
EUR/USD
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Mixed
Gold
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Bullish
More View more
Real Time News
  • Gold prices is consolidating at US$ 1,868 - its 100-Day Simple Moving Average (SMA) line. Will it hold above this key support level? https://t.co/o0BM7ABeka
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.23% Gold: -0.07% Silver: -0.97% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/X6JBrsCCnF
  • While @IG_US Client Sentiment is offering a mixed outlook for the S&P 500 and #Dow Jones, these could be at risk to a turn lower based on multiple bearish technical warning signs. Get your market update from @ddubrovskyFX here:https://t.co/9kYnq6hH1f https://t.co/bLHDVvd44Q
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.15% 🇳🇿NZD: 0.11% 🇨🇦CAD: 0.06% 🇪🇺EUR: -0.01% 🇨🇭CHF: -0.01% 🇯🇵JPY: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/p80ihot5KY
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.00%, while traders in EUR/GBP are at opposite extremes with 67.34%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/PHdbvQq8kU
  • Copper prices may continue to push higher despite a worrying surge in Covid-19 cases and the lack of progress in Congressional stimulus negotiations. Get your #copper market update from @DanielGMoss here:https://t.co/N2OW566nID https://t.co/VJfjTNDdZI
  • The US weekly jobless claim number came in at 870k, in line with expectations. This marked a 4th consecutive weekly reading below 1 million mark, but the rate of improvement in the jobs market appeared to have slowed recently. https://t.co/7pEUQk80C8
  • What is the outlook for financial markets ahead of the first presidential debate and how are Democratic nominee Joe Biden and President Donald Trump doing in the polls? Find out from @ZabelinDimitri here:https://t.co/QQwAZTxZFg https://t.co/MSOw9DeSxe
  • Wall Street Futures Update: Dow Jones (+0.415%) S&P 500 (+0.417%) Nasdaq 100 (+0.466%) [delayed] -BBG
  • - Trump popularity slowly returning despite a surge of US-based coronavirus cases - Democrats drafting $2.4 trillion aid package as urgency for more stimulus swells - #AUDUSD testing key support at 0.7018 – will a break here accelerate the selloff? https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2020/09/24/AUDUSD-at-Key-Support-Trump-Popularity-Edging-Up-Despite-Virus-Spike.html
FTSE 100 Forecast for the Week Ahead: Key Data Due as Momentum Fades

FTSE 100 Forecast for the Week Ahead: Key Data Due as Momentum Fades

2020-08-11 16:00:00
Peter Hanks, Analyst
Share:

FTSE 100 Price Outlook:

  • Upcoming UK GDP data could stoke FTSE 100 volatility as the index bleeds lower
  • That said, price may react rather unimpressively amid a broader decline in volatility which might make the index a prime candidate for range trading opportunities
  • Either way, recent price action has created a worrisome trend for the equity index as GBP/USD treads higher

FTSE 100 Forecast for the Week Ahead: Key Data Due as Momentum Fades

The FTSE 100 could enjoy a dose of volatility this week amid an otherwise calm month of August as key growth data from the United Kingdom is due. As with most of the world, coronavirus has hobbled the UK economy, thus affording economic activity metrics a crucial role in equity performance. With that in mind, traders and investors should keep a close watch on the upcoming release and subsequent price reaction as the FTSE 100 begins to show bullish momentum has exited the index.

dailyfx economic calendar

Source: DailyFX Economic Calendar

Therefore, the importance of the data could serve to accelerate losses if a poor result is realized, or perhaps slow the descent if growth has recovered quicker than expected. That being said, there is little to suggest the print will immediately spark a drastic increase in volatility as a broader decline in volatility has gripped markets amid the height of the summer doldrums. In any case, if a scheduled event were to revive bullish appetite for the FTSE 100, GDP data may be the most likely.

FTSE 100 Price Chart: 1 – Hour Time Frame (June 2020 – August 2020)

FTSE 100 price chart

To that end, key technical levels should be outlined prior to the event in case of a notable reaction. Weeks of indecision has seen the FTSE 100 slip into a quiet trading range, effectively bouncing between resistance around the 6,300 mark and support just south of 5,900.

FTSE 100 Price Chart: 4 – Hour Time Frame (March 2020 – August 2020)

FTSE 100 price chart

While I am hesitant to suggest the upcoming data will spark a break out in either direction, it could fuel further losses that have begun to pile up after weeks of fading bullish momentum. Therefore, the FTSE 100 appears to be a rather weak candidate for break out trading strategies, but could prove enticing for range traders. In the meantime, follow @PeterHanksFX on Twitter for earnings updates and analysis as they arrive.

--Written by Peter Hanks, Strategist for DailyFX.com

Contact and follow Peter on Twitter @PeterHanksFX

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

DISCLOSURES