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European Open: All Calm Ahead Of NFP, EUR/GBP Ready To Breakout?

Volatility is its usual low-self ahead of today’s NFP report, which hinges around whether USD can extend its bullish moves upon an NFP beat or give back gains upon a miss.

Asian Indices:

  • Australia’s ASX 200 index rose by 29.9 points (0.41%) and currently trades at 7,295.50
  • Japan’s Nikkei 225 index has fallen by -294.51 points (-1.02%) and currently trades at 28,751.34
  • Hong Kong’s Hang Seng index has fallen by -462.59 points (-1.6%) and currently trades at 28,365.36

UK and Europe:

  • UK’s FTSE 100 futures are currently up 25.5 points (0.36%), the cash market is currently estimated to open at 7,150.66
  • Euro STOXX 50 futures are currently up 14 points (0.34%), the cash market is currently estimated to open at 4,092.89
  • Germany’s DAX futures are currently up 36 points (0.23%), the cash market is currently estimated to open at 15,639.81

US Futures:

  • DJI futures are currently up 131.02 points (0.38%)
  • S&P 500 futures are currently down -21.75 points (-0.15%)
  • Nasdaq 100 futures are currently up 2.5 points (0.06%)

Indices: FTSE rallies back above its 50-day eMA (yet again)

China’s CSI 300 was the weakest major benchmark overnight, falling -2.4% the day after the CCP celebrated its centenary – all sectors are currently in the red. At the other end of the scale, Japanese equities rose to snap a four-day losing streak as a weaker yen lifted automaker and manufacturing stocks. Elsewhere, volatility remain capped and equity performance was mixed. US futures markets have opened relatively flat and European futures are a touch higher.

Once again, the 50-day eMA comes to the rescue for FTSE 100 bulls. Wednesday produce the fifth consecutive false intraday break below the 50-day eMA, only to see prices rally the next day (six if we include the Feb 26th which closed beneath it yet rallied the following day regardless). Closing to a 5-day high and rebounding above 7,000 and the 50-day eMA, the FTSE goes into this session on the front foot with support around 7090/95 (10-20 day eMA’s and yesterday’s POC). As things stand, the index is on track for a bullish pinbar week and a break above 7140 will only make it appear the more bullish for next week. A break below 7070 would quickly change our near-term bullish view over.

FTSE 350: Market Internals

Asian Indices:

  • Australia’s ASX 200 index rose by 29.9 points (0.41%) and currently trades at 7,295.50
  • Japan’s Nikkei 225 index has fallen by -294.51 points (-1.02%) and currently trades at 28,751.34
  • Hong Kong’s Hang Seng index has fallen by -462.59 points (-1.6%) and currently trades at 28,365.36

UK and Europe:

  • UK’s FTSE 100 futures are currently up 25.5 points (0.36%), the cash market is currently estimated to open at 7,150.66
  • Euro STOXX 50 futures are currently up 14 points (0.34%), the cash market is currently estimated to open at 4,092.89
  • Germany’s DAX futures are currently up 36 points (0.23%), the cash market is currently estimated to open at 15,639.81

US Futures:

  • DJI futures are currently up 131.02 points (0.38%)
  • S&P 500 futures are currently down -21.75 points (-0.15%)
  • Nasdaq 100 futures are currently up 2.5 points (0.06%)

Indices: FTSE rallies back above its 50-day eMA (yet again)

China’s CSI 300 was the weakest major benchmark overnight, falling -2.4% the day after the CCP celebrated its centenary – all sectors are currently in the red. At the other end of the scale, Japanese equities rose to snap a four-day losing streak as a weaker yen lifted automaker and manufacturing stocks. Elsewhere, volatility remain capped and equity performance was mixed. US futures markets have opened relatively flat and European futures are a touch higher.

Once again, the 50-day eMA comes to the rescue for FTSE 100 bulls. Wednesday produce the fifth consecutive false intraday break below the 50-day eMA, only to see prices rally the next day (six if we include the Feb 26th which closed beneath it yet rallied the following day regardless). Closing to a 5-day high and rebounding above 7,000 and the 50-day eMA, the FTSE goes into this session on the front foot with support around 7090/95 (10-20 day eMA’s and yesterday’s POC). As things stand, the index is on track for a bullish pinbar week and a break above 7140 will only make it appear the more bullish for next week. A break below 7070 woul