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.

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
Subscribe
Please try again
More View more
Real Time News
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.21% US 500: 0.16% France 40: -0.22% FTSE 100: -0.28% Germany 30: -0.28% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/dqQkfkjnlD
  • Was an absolute please to be back on @ausbiztv again today with @NadineBlayney discussing the Australian Dollar ahead of the #RBA (due in 30min!) Check out the full clip below for my thoughts on where #AUD #AUDNZD may go here - https://t.co/XqMHkiLkid https://t.co/vY6vutdGjg
  • Wuhan to conduct citywide Covid tests after infections found -BBG
  • (Equities Special) Nasdaq 100 Forecast for the Week Ahead: Tech May Outperform the Dow Jones #NASDAQ #NASDAQ100 #DowJones #NFPs https://www.dailyfx.com/forex/fundamental/article/special_report/2021/08/03/Nasdaq-100-Forecast-for-the-Week-Ahead-Tech-May-Outperform-the-Dow-Jones.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/XhNIvtiBFD
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/cg1xX4B68o
  • Emotions are often a key driving force behind FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here: https://t.co/eILWbFgHRE https://t.co/iE8mGqZtLX
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.17% Gold: -0.11% Silver: -0.24% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/le5P0D0CaR
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.31% 🇯🇵JPY: 0.09% 🇬🇧GBP: 0.06% 🇪🇺EUR: 0.03% 🇨🇭CHF: 0.03% 🇨🇦CAD: -0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/tEzSWPH3NA
  • Tencent Holdings (700 HK) slumped over 9% amid fears about regulatory risks over the gaming sector. Chinese state media published an article on Tuesday citing online games as "opium" to teenagers, spurring concerns about Tencent's future. https://t.co/4uFjwKh3kC
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.81%, while traders in France 40 are at opposite extremes with 79.46%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/aKwIeXVnVk
FTSE 100 Maintains an Upward Drift Following Friday’s NFP Report

FTSE 100 Maintains an Upward Drift Following Friday’s NFP Report

Alejandro Zambrano, Market Analyst

Talking points

  • The FTSE 100 is short-term bullish above the February 29 low and price may reach the December 12 high of 6322.
  • The U.S. labor market added 242k new jobs in February, which may keep stock markets bullish.
  • There are no market moving events on deck today.

The FTSE 100 (FXCM: UK100) is short-term bullish above the February 29 low of 6034 and may reach the next resistance level inline, which is the December 12 high of 6322. Traders who are not already long will probably see a pullback to last Thursday’s low of 6107 as an opportunity to add to their bullish exposure as the risk/reward ratio favors long positions in the 6107 to 6034 range.

On a break to the February 29 low of 6034, the trend turns bearish and FTSE 100 traders may target the February 24 low of 5839 as it’s the swing-low in line on a break to the February 29 low.

Non-Farm Payroll

The U.S. labor market added 242k new jobs in February and a net revision to January and December of 30k. This suggests that the economy is doing better than economists expected and may translate into stronger stock markets. The report also showed that the labor force participation rate increased and wage growth moderated, factors that may also aid in delaying Fed rate hikes.

There are no market moving events on deck today.

Stay informed - download the DailyFX Analysts' 1Q forecasts for the Dollar, Euro, Pound, Equities and Gold

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 DailyFX.com

Contact and follow Alejandro on Twitter: @AlexFX00

Struggling with Trading? Join a London Seminar

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

DISCLOSURES