FTSE 100 drops back again

Chris Beauchamp IG

The FTSE 100 remains unable to reach 11,000 says Chris Beauchamp, Chief Market Analyst at online trading and investing platform IG.

11,000 still a distant dream for FTSE 100

The next big round number is still a distant dream for the FTSE, despite a day of well-received results. Rising oil prices have crimped some of the optimism seen earlier in the week, but the price is still much lower than a week ago, providing a positive tailwind as we move into the second week of August.

Dollar higher on hawkish hints

While the Fed chairman seems keen on cutting back on communication, hints about a willingness to raise rates have allowed the greenback to move a little higher. But this jawboning will have to be stepped up a gear for the dollar to put in a more substantial move higher. For now the chances of a rate hike remain contained.

Author

Chris Beauchamp

Chris Beauchamp has been with IG for four years, and in that time has become a regular commentator and analyst for the financial press and TV, with appearances on all the major financial channels as well as the BBC and Sky News.

GBP/USD remains offered near 1.3450

GBP/USD gives away its initial advance, trading with decent losses in the mid-1.3400s on Thursday. Conflicting signals around the Middle East continue to weigh on sentiment, prompting Cable to fade two daily advances in a row.

EUR/USD drops to two-day lows; focus is back to 1.1500

EUR/USD’s daily decline picks up pace and approaches the 1.1500 neighbourhood following the closing bell in Euroland on Thursday. The pair’s pullback comes in response to the firmer tone in the US Dollar in a context of reignited concerns over the Strait of Hormuz.

How Wall Street rigs the game [Video]

In this week’s Live from the Vault, Andrew Maguire is joined by Peter Antico and Sean Stone to discuss the Paradigm of Money - an in-depth expose of financial market corruption, from naked shorting to the two-tier system that protects Wall Street.

XRP Price Forecast: Sell-off persists, bears aim for $1.00 as Ripple eyes on-chain multi-signature upgrade

Ripple (XRP) remains pressured, trading below $1.05 at the time of writing on Thursday. The token has declined for the fourth consecutive day this week, reflecting lethargic sentiment in the broader cryptocurrency market despite the possibility of easing geopolitical tensions in the Middle East.

The Fed is doing the exact opposite of what it should be doing

About the Yen: The WSJ has a front-page story about how the Fed is doing the exact opposite of what it should be doing—lending dollars to Japan to buy yen. “Put simply: America is printing dollars so Japan can buy yen.

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.