Stocks are making headway again this afternoon, though the possibility of a strong print in tomorrow’s US payrolls data looms large, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.
FTSE 100 makes another try at 8000
“Today’s action on the FTSE 100 has been driven by a combination of mining stocks and yield plays. While the commodity rally might be taking a breather today, mining stocks like Fresnillo and Anglo American have been firm favourites of late, and there’s no sign of that move slowing down. Meanwhile investors continue to snap up yield stocks, as expectations of lower rates later in the year dominate.”
Dow tiptoes higher
“A rise in unemployment claims has helped US stocks to build on yesterday’s recovery, but after the solid ADP report yesterday traders once more prefer to sit on their hands ahead of tomorrow’s payroll report. A procession of Fed speakers is also keeping risk appetite in check, though once more US indices appear to have successfully avoided a deeper sell-off, continuing the overall bullish theme.”
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.
Recommended Content
Editors’ Picks
EUR/USD trims some gains, recedes to 1.1350
Despite losing some upside momentium, EUR/USD keeps the firm tone around the mid-1.1300s on Thursday, buoyed by renewed US Dollar weakness as investors grappled with the continued stalemate in US–China trade negotiations.
GBP/USD puts the 1.3300 level to the test
GBP/USD hovers around the 1.3300 area on Thursday, supported by a broad rebound in risk-sensitive assets, renewed weakness in the Greenback and lingering uncertainty over US–China trade talks.
Gold sticks to the bullish stance near $3,330
On Thursday, gold regained lost ground after two consecutive days of declines, with XAU/USD climbing back toward $3,300 per troy ounce following an earlier rally to roughly $3,370. The metal drew safe-haven buying as renewed fears of a US–China trade flare-up weighed on broader markets.
Bitcoin Price corrects as increased profit-taking offsets positive market sentiment
Bitcoin (BTC) is facing a slight correction, trading around $92,000 at the time of writing on Thursday after rallying 8.55% so far this week. Institutional demand remained strong as US spot Exchange Traded Funds (ETFs) recorded an inflow of $916.91 million on Wednesday.
Five fundamentals for the week: Traders confront the trade war, important surveys, key Fed speech Premium
Will the US strike a trade deal with Japan? That would be positive progress. However, recent developments are not that positive, and there's only one certainty: headlines will dominate markets. Fresh US economic data is also of interest.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.