Heading into the close the FTSE 100 is flat on the day, having rebounded from the lows as the pound slides. 

  • Wall Street steadies equity markets on trade hopes
  • Investors keep on buying the dip
  • BoJo takes a step closer to No 10

Indices are finishing the week in the red in Europe, but have again rallied off the lows as the general recovery in risk goes on. US futures were pointing to sizeable losses on the open but since the open Wall Street has clawed back most of its initial losses. The reprieve on car tariffs is now an established fact, which helps to calm trade tensions at the ned of a week that has seen price action driven by this very concern. A quiet day for data has meant that markets have little to go on apart from the ups and downs of the US-China spat, but the past week has pointed to renewed bullishness among investors, with a commendably strong bout of dip buying going on over the last few sessions.
 Perhaps even trade wars are losing their ability to shock? 

In a time of surprises, the complete breakdown of talks between Labour and the Conservatives is perhaps the least surprising thing to happen. Ahead of European elections that seem to promise a complete drubbing for both parties, the need to try and talk tough is paramount. In addition, with the PM now essentially on borrowed time the prospect of Boris Johnson ascending to the premiership has revived the fears of a no-deal Brexit. The one consolation for UK investors is that it is doing wonders for the FTSE 100 

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.

Feed news

Latest Forex Analysis

Editors’ Picks

EUR/USD recovery reaches critical 1.1170 price zone

The EUR/USD pair bounced from a fresh multi-year low of 1.1106, although the advance stalled in the 1.1170 region, with the pair having been unable to extend gains beyond it since last Friday. Bulls to become more courageous if the advance extends beyond 1.1200.


GBP/USD modestly up for the day after flirting with 1.2600

The GBP/USD pair is poised to close in positive ground for the first time in ten days, a result of an extremely overbought dollar and US data giving bulls a reason to take some profits out of the table. Brexit chaos persists, Pound gains unlikely.


USD/JPY trades at weekly lows near 109.70 as risk aversion dominates

The USD/JPY pair met a renewed selling pressure in the American trading hours amid intensifying flight-to-safety and touched its lowest level in a week at 109.68.


Market confidence in doldrums as PMI surveys plummet

US and German PMI surveys failed to muster any form of confidence in the growth picture, with stocks and the dollar under pressure today. The UK political picture looks bleak, with the chances of a no-deal Brexit or general election rising with May’s departure. 

Read more

Gold jumps to weekly tops and retreats, still well bid near $1280 level amid risk-off mood

Gold built on its intraday positive move and spiked to fresh weekly tops, around the $1284 region in the last hour, albeit retreated a bit thereafter.

Gold News