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
Indices stay under pressure as UK inflation remains sticky

Indices stay under pressure as UK inflation remains sticky

IG, Sponsored Content


What's on this page

Article written by IG Senior Market Analyst Axel Rudolph

FTSE 100, DAX 40, and S&P 500 Analysis, Prices, and Charts

​​​FTSE 100 drops on higher-then-expected CPI

​The FTSE 100 has been declining since Friday’s five-week high and is being pushed lower as UK CPI comes in higher-than-expected ahead of Thursday’s Bank of England monetary policy meeting at which the central bank is expected to hike its rates for a thirteenth time, probably to 4.75%.

​The index is now pressing on the 200-day simple moving average (SMA) at 7,551 and the early June low at 7,546, a fall through which would open the way for the 1 June high at 7,510 to be reached ahead of the May trough at 7,433. ​Downside pressure should retain the upper hand while Monday’s low at 7,581 isn’t bettered. Further resistance can be seen along the breached May-to-June uptrend line at 7,630 which, because of inverse polarity, could act as resistance.

FTSE 100 Daily Price Chart - June 21, 2023

Trade Smarter - Sign up for the DailyFX Newsletter

Receive timely and compelling market commentary from the DailyFX team

Subscribe to Newsletter

​DAX 40 sees two consecutive days of lower prices

​The DAX 40 has come off Friday’s new all-time record high as investors re-assess the economic outlook and future central bank policy.

​A slip through Tuesday’s low at 16,067 would put the minor psychological 16,000 level back on the cards, together with the 55-day simple moving average (SMA) at 15,941. ​Minor resistance above last Thursday’s low at 16,160 sits at Monday’s low at 16,187 with further resistance seen along the breached May-to-June uptrend line at 16,252.

DAX 40 Daily Price Chart - June 21, 2023

Traits of Successful Traders
Traits of Successful Traders
Recommended by IG
Traits of Successful Traders
Get My Guide

​S&P 500 subdued ahead of Powell testimony

​​The S&P 500 is seen coming off its 14-month high at 4,447 ahead of Jerome Powell’s US Senate banking committee testimony on Wednesday and Thursday which is likely to re-iterate the Federal Reserve’s (Fed) hawkish stance. ​With the index having slid through its June uptrend line at 4,410, a short-term downside bias is in place. Failure at Tuesday’s low of 4,367 would put last Thursday’s low at 4,348 on the map.

​​Minor resistance is to be found around the minor psychological 4,400 mark and at Tuesday’s high at 4,405.

S&P 500 Daily Price Chart - June 21, 2023

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