Heading into the close, the FTSE 100 is flat, but US markets are advancing once again.

US equities are pushing higher after a shaky start, with equities having weathered options expiry in positive fashion. Kudlow’s trade comments have provided the foundation for the bounce, and a solid bounce in US retail sales compared to a month ago has added fuel to the fire. Even the lacklustre FTSE 100, which has spent the week diverging from the US in impressive fashion, is managing to stage a late rally. The positive read on US retail sales is a welcome development, sending a signal about the confidence of US consumers, and with earnings season having pointed towards a nascent recovery for US corporations, the stage is set for a continuation of this bull market. Adding to this, cash
 balances at fund managers are falling once again, putting more power behind the broader move higher. Talk of Dow 30,000 by Christmas might not be so far-fetched as previously thought.

The end of the week sees the pound pushing back to $1.29, building on the rally from Monday. After some indecision mid-week, sterling traders are taking a more bullish view as fresh polls point to the persistence of a wide Conservative lead over Labour. There is still a long way to go, and manifestos have not yet been presented, but so far the campaign is going Boris’ way.

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.

Analysis feed

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Analysis

Latest Forex Analysis

Editors’ Picks

EUR/USD advances above 1.14 after unchanged ECB, mixed US data

EUR/USD is trading above 1.14, higher after the ECB left policy unchanged and called governments to act. US retail sales beat with 7.5% while jobless claims disappointed with 1.3 million. US coronavirus figures are showing further increases in cases.


GBP/USD advances above 1.26 amid mostly upbeat US, UK data

GBP/USD is trading above 1.26, higher. The UK jobs reports showed low unemployment but also depressed wages. US retail sales beat expectations but jobless claims remain high. 


Gold trades with modest losses, downside remains limited

Gold witnessed a modest intraday pullback amid a pickup in the USD demand. The prevalent risk-off mood extended some support to the safe-haven metal. A sustained break below $1800 is needed to confirm a bearish break.

Gold News

Why is the crypto market falling today?

War for dominance impacts the market and heralds several days of turbulence. Fight between Bitcoin and Ethereum hurts the Altcoin segment, which is largely overbought after weeks of euphoria. Ripple is the most affected of the Top 3 and steps back into a high-risk environment.

Read more

WTI: 200-HMA is a tough nut to crack amid rising wedge breakdown

WTI has bounced-off lows, still sheds over 1% to trade around $40.80, as the OPEC and its allies’ (OPEC+) decision to ease output cuts from next month weighs.

Oil News

Forex Majors