Instrument: UK100
Bullish Preference:
A buy position is envisaged if the price trades above 7413.9 with take profit at 7427.6.
Bearish Preference:
A sell position is envisaged if the price trades below 7352.6 with take profit at 7337.7.
Fundamentals:
None affecting the instrument.
Comment:
European stocks lower; sentiment hit by signs of global slowdown. Asia-Pacific stock markets fell on Thursday, extending a decline in global equities, after the U.S. Federal Reserve confirmed its hawkish stance, while an escalating trade battle between China and the United States also dampened sentiment. Investors are set to concentrate during European hours on the release of the eurozone’s final services and composite PMIs for June, which are expected to confirm a slowing in what has been a consumption-led economic recovery. This follows the release of disappointing manufacturing activity data, with surveys showing factory activity in all four of the region’s biggest economies contracted last month.
Analysis: SCRUM Team