FTSE 100 enjoys best day in almost two years

Chris Beauchamp IG

Today saw the FTSE 100 soar, in its best one-day move since February 2024, says Chris Beauchamp, Chief Market Analyst at investing and trading platform IG.

FTSE 100 rampages to a new record high

Yesterday it was the Dow Jones and Dax at record highs, and today the FTSE 100 has joined the party, barely a week after its last record high. Much of the positivity stems from a bounce for GSK and AstraZeneca, rallying after the former’s news this morning, while Next continues to enjoy a recovery after a tough few months. European inflation data has been a big player too however, giving hope that the ECB will join the easing campaigns being waged by the Fed and BoE, adding to the impression that worries about earnings will be countered by supportive monetary policy.

Geopolitical worries cast aside

If the Western alliance is about to fracture, it doesn’t appear to worry stocks on either side of the Atlantic. Worries about that and high stock valuations have failed to halt the rally, with bubble fears having been left behind in 2025 for the moment. Earnings estimates for the coming season have remained robust, pointing towards optimism among investors, while a new record for stock market breadth shows that the rally remains broad-based.

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Chris Beauchamp

EUR/USD weakens to near 1.1900 as traders eye US data

EUR/USD eases to near 1.1900 in Tuesday's European trading hours, snapping the two-day winning streak. Markets turn cautious, lifting the haven demand for the US Dollar ahead of the release of key US economic data, including Retail Sales and ADP Employment Change 4-week average.

GBP/USD stays in the red below 1.3700 on renewed USD demand

GBP/USD trades on a weaker note below 1.3700 in the European session on Tuesday. The pair faces challenges due to renewed US Dollar demand, UK political risks and rising expectations of a March Bank of England rate cut. The immediate focus is now on the US Retail Sales data.

Gold sticks to modest losses above $5,000 ahead of US data

Gold sticks to modest intraday losses through the first half of the European session, though it holds comfortably above the $5,000 psychological mark and the daily swing low. The outcome of Japan's snap election on Sunday removes political uncertainty, which along with signs of easing tensions in the Middle East, remains supportive of the upbeat market mood. This turns out to be a key factor exerting downward pressure on the safe-haven precious metal.

Bitcoin Cash trades lower, risks dead-cat bounce amid bearish signals

Bitcoin Cash trades in the red below $522 at the time of writing on Tuesday, after multiple rejections at key resistance. BCH’s derivatives and on-chain indicators point to growing bearish sentiment and raise the risk of a dead-cat bounce toward lower support levels.

Follow the money, what USD/JPY in Tokyo is really telling you

Over the past two Tokyo sessions, this has not been a rate story. Not even close. Interest rate differentials have been spectators, not drivers. What has moved USD/JPY in local hours has been flow and flow alone.

Bitcoin Cash trades lower, risks dead-cat bounce amid bearish signals

Bitcoin Cash (BCH) trades in the red below $522 at the time of writing on Tuesday, after multiple rejections at key resistance. BCH’s derivatives and on-chain indicators point to growing bearish sentiment and raise the risk of a dead-cat bounce toward lower support levels.