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.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
More View more
Real Time News
  • Dollar Index remains above 90 as US equities put in a strong session $USD $DXY
  • Commodities Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Silver: 2.28% Gold: 1.47% Oil - US Crude: -0.15% View the performance of all markets via
  • EUR/USD carves a series of higher highs and lows ahead of the European Central Bank’s (ECB) first meeting for 2021. Get your $EURUSD market update from @DavidJSong here:
  • Silver noticeably higher during trade, now up over 2% $XAG $USD
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in Wall Street are at opposite extremes with 66.19%. See the summary chart below and full details and charts on DailyFX:
  • Canadian #Dollar Outlook: $USDCAD BoC Breakdown– #Loonie Levels -
  • Indices Update: As of 19:00, these are your best and worst performers based on the London trading schedule: US 500: 1.39% Wall Street: 0.76% FTSE 100: 0.18% Germany 30: 0.15% France 40: 0.15% View the performance of all markets via
  • US indices remain up following Biden's inauguration, with the S&P and Nasdaq hitting fresh all time highs today. DOW +0.76% NDX +1.83% SPX +1.33% RUT +0.12% $DOW $QQQ $SPY $IWM
  • USD/CAD falls to session lows as Loonie gains immediately after the BoC rate decision. Get your $USDCAD market update from @RichDvorakFX here:
  • $EURJPY is trading below 125.50 today after attempting to stage a recovery yesterday. The pair had climbed back above 126.00 yesterday after falling to around 125.10, its lowest level since early December, during Monday trading. $EUR $JPY
FTSE 100 Maintains A Bearish Bias Ahead of ECB Meeting

FTSE 100 Maintains A Bearish Bias Ahead of ECB Meeting

Alejandro Zambrano, Market Analyst

Talking Points

  • Traders would need to breach Tuesday’s high of 5917 to end the bearish trend of the FTSE 100
  • The FTSE 100 should be trading closer to 5906 to be in line with the DAX 30 and Commodity markets

The FTSE 100 (FXCM: UK100) is higher by 0.67% at the time of writing. However, the downward trend remains in place and for it to end, traders would need to breach Tuesday’s high of 5917. With this in mind, I anticipate that traders will use a rally to the 5758 to 5830 range as an opportunity to short the DAX 30, with stops above Tuesday’s high of 5917. Traders are expected to aim for yesterday’s low of 5600.

If the FTSE 100 breaks this low, we may see a slide to the July 2012 low of 5450 triggered.

On the other hand, our fair value model based on the Bloomberg Commodity index suggests this will be hard. Using the last six months of daily data suggests that the FTSE 100 should be trading closer to 5906 as the index has declined more than commodity markets would have suggested. Using the DAX 30 as an explanatory variable suggests the same i.e. the FTSE 100 is oversold and should in fact be trading closer to 5906.

Will the ECB Help?

Traders are anticipating a dovish tilt for the ECB. They are looking for comments suggesting they are concerned about the development in oil and stock markets, and how this may delay inflation reaching ECB’s 2 percent target. However, with rate cuts implemented in December and more upbeat data emerging from the Eurozone as of late, I think the ECB will stick to their current plan which may in turn soften the FTSE 100.

In the afternoon U.S. Jobless Claims and Philadelphia Fed Index are on tap. Better than expected outcomes may limit the slide in the FTSE 100, but it will probably not be enough to end the bearish trend.

Learn What FXCM’s Most Successful Traders Do on a Consistent Basis, sign up for our free guide here.

FTSE 100 | FXCM: UK100

Please add a description for the image.

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

--- Written by Alejandro Zambrano, Market Analyst for

Contact and follow Alejandro on Twitter: @AlexFX00

Struggling with Trading? Join a London Seminar

Get Alejandro’s daily market update in your inbox, please fill out this form

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