- Australia’s ASX 200 index rose by 67.7 factors (0.93%) and at the moment trades at 7,376.40
- Japan’s Nikkei 225 index has fallen by -180.31 factors (-0.65%) and at the moment trades at 27,472.43
- Hong Kong’s Hold Seng index has risen by 487 factors (1.79%) and at the moment trades at 27,711.58
UK and Europe:
- UK’s FTSE 100 futures are at the moment up 14 factors (0.2%), the money market is at the moment estimated to open at 7,012.28
- Euro STOXX 50 futures are at the moment up 16 factors (0.4%), the money market is at the moment estimated to open at 4,042.68
- Germany’s DAX futures are at the moment up 38 factors (0.25%), the money market is at the moment estimated to open at 15,460.50
- DJI futures are at the moment up 286.01 factors (0.83%)
- S&P 500 futures are at the moment up 14.5 factors (0.1%)
- Nasdaq 100 futures are at the moment up 2.75 factors (0.06%)
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Asian share markets have been greater in a single day, with the MSCI APAC (ex-Japan) index rising round 1%. The Hold Seng was the strongest performer, rising 1.75% with the KOSPI 200 rising 1.3% and STI up 1.2%. The ASX 200 rallied for a second day and closed in on its report highs after efficiently holding above pattern help and rising to the highest of its vary.
It was the FTSE’s most bullish session in 5 months yesterday, which closed simply beneath 7,000 and at a two-day excessive. It additionally closed with a three-bar bullish reversal (Morning Star) sample to counsel a swing low is in place. While key resistance is clearly at 7,000, be aware of the 50 and 20-day eMA’s round 7040 which can additionally act as resistance, while a break above these ranges clears the best way for a run in the direction of the July highs.
Earnings: Unilever PLC (UVLE) and Pearson Plc (PSON) are set to launch earnings forward of the open.
FTSE 350: Market Internals
FTSE 350: 4016.86 (1.70%) 21 July 2021
- 313 (89.17%) shares superior and 28 (7.98%) declined
- 14 shares rose to a brand new 52-week excessive, 5 fell to new lows
- 76.64% of shares closed above their 200-day common
- 44.16% of shares closed above their 50-day common
- 9.97% of shares closed above their 20-day common
- + 14.8% – Cineworld Group PLC (CINE.L)
- + 9.36% – Carnival PLC (CCL.L)
- + 9.16% – Future PLC (FUTR.L)
- -4.10% – Community Worldwide Holdings PLC (NETW.L)
- -2.71% – Royal Mail PLC (RMG.L)
- -2.35% – Hilton Meals Group PLC (HFG.L)
Foreign exchange: ECB up subsequent
The Japanese yen is at the moment the strongest foreign money while NZD and CAD are the weakest. As this can be a minor reversal from yesterday’s play then it seems to be like a mixture of revenue taking and repositioning.
The US greenback index is buying and selling close to yesterday’s bearish engulfing / outdoors day low. The greenback is barely greater towards rising markets, flat towards AUD and -0.2% towards the yen.
Except for in the present day’s ECB assembly the calendar is quiet. And it’s not fully sure that the ECB assembly (or press convention 45 minutes later) will flip right into a risky occasion, but that doesn’t imply it shouldn’t be on dealer’s radars. Hopefully, ECB members will come to an settlement on easy methods to handle their ahead steerage below their new ‘symmetric 2%’ inflation goal framework. While they unanimously agreed upon the change happening, it has been reported that they have been unable to agree on the way it ought to be applied. So hopefully they are going to (for as soon as) have the same opinion in the present day and permit Lagarde to make clear such particulars within the press convention. We are able to solely hope.
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Commodities: Oil tracks threat urge for food
Oil has regarded previous its bearish fundamentals (OPEC+ rising provide and better inventories) these previous two days, in favour rising threat urge for food. Ought to that proceed, then WTI might additionally break greater.
WTI futures fashioned a small bullish hammer on Tuesday so present bears have been shedding management, earlier than yesterday’s commerce recouped virtually all of Monday’s losses and closed simply above the 50day eMA. A 3-bar bullish reversal sample has now fashioned (Morning Star Reversal) to counsel a corrective low is in place, and a break above the month-to-month pivot level / 20-day eMA confirms the reversal and assumes pattern continuation. Ought to costs initially retrace decrease inside yesterday’s vary, we’d think about bullish setup across the month-to-month S1.
Silver is buying and selling slightly below yesterday’s bullish engulfing candle. While it exhibits the potential to rise in the direction of the 25.53 – 25.76 resistance zone over the near-term we might nonetheless search proof of a swing excessive forming round such an space.
Copper is testing pattern resistance from the Could excessive. Regardless of exhibiting the potential to fall additional on Monday, threat sentiment just isn’t at the moment supportive of that presently, so there’s a threat coper might break pattern resistance if equities and yields proceed to rally. In any other case, a break beneath Monday’s low assumes bearish continuation.
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