FTSE 100 recovery continues

Chris Beauchamp IG

The FTSE 100 continues to recover recent losses, says Chris Beauchamp, Chief Market Analyst at online trading and investing platform IG.

FTSE 100 claws back losses

It has been a mixed day for global stock markets, but at least the FTSE 100 has managed to recoup some of last week’s miserable performance. Gains have been spread around the index relatively broadly, but once again it is tech that has been the dominant driver elsewhere, as noted by another positive day for the Nasdaq 100 while the Dow continues to struggle.

Oil prices head lower

Oil has proven unable to hold on to its gains from earlier in the day, leaving the commodity in the control of sellers. Despite a late rebound on Friday following the news of a release of diesel stockpiles, the renewed flows out of the Middle East continue to act as a weight on prices, leaving the bias to the downside for now.

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.

AUD/USD turns south toward 0.6900 as USD firms up

AUD/USD sees fresh selling and drops toward 0.6900 in late Asian trading on Monday, as renewed US Dollar strength weighs on the pair amid lingering Middle East and Russia-Ukraine geopolitical tensions. Focus remains on Oil prices, Treasury bond yields, and RBA expectations for fresh trading impetus in the major.

USD/JPY retakes 158.00 amid hawkish BoJ bets, firmer USD

USD/JPY erases losses and retakes 158.00 in the Asian session on Monday, trading within a one-week-old range. Geopolitical uncertainty continues to underpin the US Dollar, despite fading Fed rate hike hopes, supporting the pair's rebound. However, further upside could be capped by hawkish BoJ expectations and looming intervention risks that could support the Japanese Yen.

Gold flirts with $4,100, four-day lows

Gold adds to Friday’s losses and comes closer to the key $4,100 mark per troy ounce at the beginning of the week. The yellow metal’s retracement comes in response to the persistent advance in the US Dollar in combination with the resurgence of the upside momentum in US Treasury yields across the curve.

Crypto Today: Bitcoin rally slows while Ethereum and XRP extend recovery amid slowing ETF inflows

Bitcoin is narrowly consolidating while trading above $86,000 at the time of writing on Monday. Altcoins, on the other hand, show a positive outlook, with Ethereum edging higher above $2,700 while Ripple steadies above $1.52.

Eurozone inflation just hit 3.8%, its highest in three years. This chart shows why the ECB can’t simply hike its way out

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