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.
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.
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.
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.
This information has been prepared by IG, a trading name of IG Markets 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.
Take a position on indices
Deal on the world’s major stock indices today.
- Trade the lowest Wall Street spreads on the market
- 1-point spread on the FTSE 100 and Germany 40
- The only provider to offer 24-hour pricing
Live prices on most popular markets
- Forex
- Shares
- Indices
