UK100 Contained as UK Managed to Eke Out Growth in Q4 2022
Today’s data showed that UK GDP expanded by a lackluster 0.1% in Q4 q/q, with the Index subdued as it heads towards a profitable week, but losing month
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Today’s data showed that UK GDP expanded by a lackluster 0.1% in Q4 q/q, with the Index subdued as it heads towards a profitable week, but losing month
Take a look at some corporations that will be on our focus over the coming months, as the second quarter and the new earnings season get underway against a highly uncertain backdrop, due to the recent banking turmoil
The German index starts the week on the front foot as European officials reassured markets over the health of the financial system, while the sale of failed SCV to First Citizens Bank helps sentiment
Banking giant UBS agreed to buy troubled Credit Suisse with the blessing of Swiss regulator and government, with authorities around the world striving to safeguard the financial system, as focus now shifts the US Fed’s policy decision
The European Central Bank abided by its stated intentions and raised rates by 0.5% on Thursday, as the SNB lifeline to Credit Suisse helped contained fears over the banking sector, following the recent rout
The GER30 weekly has charted a higher trough, followed by a higher peak. This is an uptrend. Its RSI remains on the bullish side of 50.
The GER30 has had a negative correlation to the US real rate since June 2021. Despite the geography, this makes a certain sense.
GER30 has bounced off of the support around the 15,260 level (green shaded horizontal). Since the beginning of February, it has been threatened seven times. Every time it has been defended.
After a profitable week, the German index starts the current one with caution amidst lack of catalysts, but a series of economic data is due over the following days
FXCM’s DAX cfd, GER30, has charted a strong bullish reversal pattern.
Both central banks raised their benchmark rates by another 0.5% as expected, but the Bank of England softened its messaging, whereas its European peer remained aggressive, despite some less hawkish elements
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