In today's Spreadbetting update, we look at the outlook ahead and how Spreadex' clients remained positioned in the FTSE 100, GBP/USD, ITV, Sky, and Apple, with Connor Campbell, Financial Analyst at Spreadex, and Zak Mir, Technical Analyst at Zak's Traders Cafe.
Highlights:
"If the BOE doesn't take any substantial action next month, markets not going to take it kindly, Markets are pricing-in 90% rate cut in August."
"FTSE100 – still hanging around 6700, not exciting but impressive. Will be interesting to see if BOE rate cut would trigger another leg higher. GDP data tomorrow more of a rear view mirror."
"Cable – after Weale's comments it fell to 1.41. Pound still has room to fall if BOE produces rate cut in August. Also depends on Tone of the Fed policy and US GDP release on Friday. It will be interesting to see how much the Fed is concerned about Brexit impact."
"Earnings outlook for ITV, SKY and Apple"
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