FTSE 100, DAX 40 and Nasdaq 100 slightly bid ahead of US inflation print
FTSE 100, DAX 40 and Nasdaq 100 slightly bid ahead of US December CPI print.
FTSE looks bid post slightly softer UK inflation print
The FTSE 100 trades back around its 200-day simple moving average (SMA) at 8,224 amid a slightly softer-than-expected UK December inflation print. The 55-day SMA at 8,200, the 7 January low at 8,186 and Tuesday's low at 8,181 offer support. A fall through this area would push the psychological 8,000 region to the fore.
Minor resistance can be seen around the 8,267 early January high, a rise above which may put the current January high at 8,327 back on the cards. It would need to be exceeded for the October and December highs at 8,389-to-8,397 to be in play.
DAX 40 rises slightly ahead of US inflation data release
The German DAX 40 index's swift recovery off Monday's 20,025 low has taken it back to the 20,300 region while awaiting the much anticipated US December CPI print.
A rise above Tuesday's 20,364 high may put the current January 20,485 high back in play whereas a fall through Tuesday's 20,203 low may lead to the 20,000 region being revisited.
Nasdaq 100 traders await December CPI print
The Nasdaq 100 probes its key 20,769-to-20,533 support zone, made up of the December and current January lows ahead of today's US inflation data release. If fallen through on a daily chart closing basis, the mid-November low at 20,306 would be next in line.
Immediate downside pressure should retain the upper hand while the index remains below the 55-day SMA at 21,061 and, more importantly, Friday's 21,200 high.
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