Analysis

Bailey comments power FTSE 100 while hitting sterling

The FTSE 100 has been a given a lift by the Bank of England governor today, while other indices have had a choppier start to the month, says Chris Beauchamp, chief market analyst at online trading platform IG.

Stocks endure a choppy session on first day of March

“While European and US futures came into the day looking stronger thanks to Chinese factory data, they have found the going harder throughout the rest of the session. After a miserable second half of February, hopes were high that new month flows might help stocks find their footing, even as worries about the path of interest rates remained. US stocks have steadied after a weaker open, though we are yet to see an enthusiastic wave of buying.”

Bailey knocks the pound and lifts FTSE 100 after rate comments

“It would be a brave person who put much faith in Andrew Bailey’s comments about UK interest rates, but his view that rates might not need to keep rising has put the FTSE 100 on top among global indices while seeing the pound drop back against the dollar and fall more dramatically against the euro. After being among the first to flash its hawkish plumage, the BoE now seems to have donned more dovish attire, though another couple of months of strong data could see that outfit put away again. 
 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.