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CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

​​FTSE 100, DAX 40 and S&P 500 await US payroll revision and FOMC minutes​

​​​FTSE 100, DAX 40 and S&P 500 await US payroll revision and FOMC minutes ahead of Jackson Hole symposium Fed Chair Powell speech.​​

Indices phone app Source: Adobe images

​​​FTSE 100 is taking a breather

​After a near two-week buying frenzy in the FTSE 100, this week has seen some profit taking in the index ahead of US Federal Open Market Committee (FOMC) minutes and the Jackson Hole symposium which may shed more light on US monetary policy.

The 55-day simple moving average (SMA) at 8,216 may thus be revisited this week, below which lies a significant support zone between the late May to early July lows at 8,138-to-8,106.

Key resistance remains to be seen at the early August high and this week's peak at 8,374-to-8,404.

FTSE 100 chart Source: IT-Finance.com
FTSE 100 chart Source: IT-Finance.com

​DAX 40 rally is losing upside momentum

​The DAX 40 swift recovery from its early August 17,021 low has taken it close to its late July high at 18,580 by so far rising to 18,498 on Tuesday before profit taking kicked in.

Minor support can be seen along the 55-day SMA at 18,242 ahead of the 9 July low at 18,211. 

DAX 40 chart Source: IT-Finance.com
DAX 40 chart Source: IT-Finance.com

​S&P 500 advance stalls ahead of July FOMC minutes publication

​The S&P 500's swift rally from its 5 August low at 5,091 ended a day short of matching a 20-year-old winning streak by rising to Tuesday's 5,620 high before retracing slightly lower.

A rise above this level would engage its July 5,669 record high.

Potential slips may find support around the early August high at 5,564. 

S&P 500 chart Source: IT-Finance.com
S&P 500 chart Source: IT-Finance.com

This information has been prepared by IG, a trading name of IG Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.

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