FTSE 100, CAC 40 and Nasdaq 100 remain under pressure
Outlook on FTSE 100, CAC 40, Nasdaq 100 ahead of US Non-Farm payrolls.
FTSE 100 follows Asia lower
The FTSE 100 continues to sell-off amid pared back rate cut expectations and despite UK house prices rising for the first time in eight months according to the Halifax.
Wednesday’s low at 7,648 is thus back in sight, a fall through which could lead to the mid-October low at 7,584 being reached, together with the 200-day simple moving average (SMA) at 7,575.
Immediate downside pressure should be maintained while Friday’s intraday high at 7,709 isn’t bettered. Above it lies resistance between the September and December highs at 7,747 to 7,769.
CAC 40 drops towards this week’s low
The French CAC 40 stock index continues to slide amid general de-risking on pared back rate cut expectations and is about to fall through this week’s low at 7,380 ahead of the publication of today’s Eurozone inflation data.
Were 7,380 to give way, the November high and 5 December low at 7,313 to 7,308 would be targeted.
Minor resistance above Friday’s 7,438 intraday high sits at Thursday’s 7,456 high. This level would need to be exceeded for the next higher Tuesday low at 7,482 to be back in focus.
Nasdaq 100 drops for fifth consecutive day
The Nasdaq 100’s decline at the beginning of this year on lowered rate cut expectations and general risk-off sentiment due to heightened tensions in the Middle East led to five consecutive days of losses in the index, not seen since 2022.
The November high at 16,167 represents the next downside target and, together with the 22 November high at 16,126, should offer at least interim support.
Resistance above Wednesday’s 16,353 low sits between Tuesday’s low and Wednesday’s high at 16,450 to 16,555.
IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.
The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
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. Please see important Research Disclaimer.
Please also note that the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.
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
See more forex live prices
See more shares live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
See more indices live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.