Skip to Content
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.

Free Trading Guides
Please try again

Live Webinar Events


Economic Calendar Events


Notify me about

Live Webinar Events
Economic Calendar Events






More View More
FTSE 100 Soars To New Highs, Set To Remain Bullish

FTSE 100 Soars To New Highs, Set To Remain Bullish

Alejandro Zambrano, Market Analyst


Talking Points

  • FTSE 100 soars to new highs
  • Yesterday’s U.S data like Markit Services PMI and durable goods orders should keep the FTSE 100 bullish over the next few days

FTSE 100 soars to new highs and takes out the November 19 high of 6367 in the process. The break to 6367 opens up for a rally towards the November 5 high at 6422. Short-term traders will probably use the 6320 intraday low from November 25 as a base for long positions aiming towards the 6422 high.

There are no lack of drivers to the current rally, rather I see the stock market as catching up with yesterday’s U.S data. Growth indicators like the Markit Services PMI, durable goods orders, and jobless claims beat expectations, while inflation (PCE and Core PCE) remained unchanged and did not increase as the market had expected.

This really is the best of both worlds as equities tend to rally on prospects of higher growth and low inflation. Such does not warrant aggressive rate hikes by the Fed.

The low inflation makes it also less likely to get aggressive positioning in the Dollar, helping commodities and in return the FTSE 100.

There is no key data on tap today.

Join Alejandro every trading day at 9:15 AM GMT for a free webinar covering the FTSE 100, DAX30, EURUSD and other key markets.

Created with Marketscope/Trading Station II; prepared by Alejandro Zambrano

--- Written by Alejandro Zambrano, Market Analyst for

Contact and follow Alejandro on Twitter: @AlexFX00

Learn more about trading, join a London Seminar

To be added to Alejandro’s e-mail distribution list, please fill out this form

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