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.

Free Trading Guides
EUR/USD
Mixed
GBP/USD
Bullish
USD/JPY
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
Gold
Bullish
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
Bitcoin
Bearish
More View more
Real Time News
  • Heads Up:🇺🇸 USD Baker Hughes U.S. Rig Count (NOV 15) due at 18:00 GMT (15min), Actual: N/A Expected: N/A Previous: 817 https://www.dailyfx.com/economic-calendar#2019-11-15
  • The US Citi Economic Surprise Index drops below zero as economic data comes in under expectations this week $DXY $SPX https://t.co/zA9zAELlN2
  • House Majority Leader Hoyer says there will be no holiday leave until a government funding bill is approved $DXY
  • Australian #Dollar Price Outlook: #Aussie Plunges to Technical Support - $AUDUSD Levels - https://t.co/rLdZHVkDsq https://t.co/Mdv3GUM2MQ
  • #Gold prices continue to trade within the descending channel from the September 4 and November 1 highs. Get your $XAUUSD market update from @CVecchioFX here:https://t.co/2AOAlwveW7 $GLD https://t.co/oLqswZB5Sd
  • Commodities Update: As of 17:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.92% Silver: -0.18% Gold: -0.28% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/RnOiMfKWGa
  • The $USD edged lower immediately following October US retail sales data which crossed the wires at 0.3% compared to estimates looking for 0.2%. Get your market update from @RichDvorakFX here:https://t.co/lgcorcoa3W https://t.co/06RIJUqFCG
  • Bundesbank's Weidmann: - No economic crisis in Germany - Not against policy that is expansionary, but have to weigh how much is appropriate $EUR
  • Forex Update: As of 17:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.33% 🇳🇿NZD: 0.29% 🇪🇺EUR: 0.21% 🇨🇦CAD: 0.13% 🇨🇭CHF: -0.23% 🇯🇵JPY: -0.33% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/G0RZWXUeXK
  • Indices Update: As of 17:00, these are your best and worst performers based on the London trading schedule: US 500: 0.57% Wall Street: 0.56% Germany 30: 0.02% France 40: -0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/v43U9d30As
The FTSE 100 Has Cracked Its March High

The FTSE 100 Has Cracked Its March High

2016-04-13 07:27:00
Alejandro Zambrano, Market Analyst
Share:

Talking Points

  • FTSE 100 trades higher, in line with the rise in commodity prices.
  • The latest U.S. Retail Sales report is on deck today.
  • Chinese Exports increased 18.7 % YoY.

The FTSE 100 has at the time of writing finally breached the March 18 high of 6237, a resistance level which had capped price for more than a month.

The trigger behind the FTSE 100’s rise above the March 18 high, was gains in the commodity-related shares; the Materials Sector saw gains of 2.93% on the day, while Energy firms rose by 1.45%. These gains were in return triggered by stronger metal and energy prices.

The FTSE 100’s relationship with Brent crude oil prices was highlighted yesterday because, at that time, crude oil had risen above its monthly high while the FTSE 100 remained trapped in its narrow range.

With the FTSE 100’s breach to the March 18 high of 6237, the next resistance level ahead is the December 29 swing high of 6322, followed by the December 2 high of 6449. The trend defining level is the April low of 6060 as it’s the most recent swing low, and given that this low is greater than the swing low of March 3, the short-term trend is bullish.

The key report for the FTSE 100 on deck this afternoon is U.S. Retails Sales, which is projected to increase by 0.1% MoM according to a Bloomberg News survey. Traders watch U.S. data reports, not only because they impact the USD and could, therefore, impact the FTSE 100 via commodity prices, but because some studies show that 19% of FTSE 100 revenues are from the U.S. This can be contrasted with only 23% of FTSE 100 revenues being derived from the U.K.

Chinese data, published overnight showed that exports in CNY rose by 18.7% YoY vs. the estimated 14.9%. The business press cites this as positive for global stocks.

Our Stock Market forecasts for Q2 2016 are now live on the site. Download them for free.

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

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

DISCLOSURES

News & Analysis at your fingertips.