Analyst
Bullish Preference: Buy position is envisaged if price trades above 15540.5 with take profit at 15569.7
Bearish Preference: Sell position is envisaged if price trades below 15422.7 with take profit at 15378.5
No major economic data with bearing on the index
Comments: The index traded higher in the session yesterday was driven by the optimism of easing restrictions and strong earnings data from companies. The psychological level of 15525 remains a significant obstacle to the bullish move.
Bullish Preference: Buy position is envisaged if price trades above 1.42115 with take profit at 1.42262
Bearish Preference: Sell position is envisaged if price trades below 1.41517 with take profit at 1.41197
BOE Gov Bailey Speaks (GBP) 3:30 PM
Comments: The dollar was down on Tuesday morning in Asia. The dollar index hovered close to multi-month lows against European currencies, as investors ramped up bets that the U.S. Federal Reserve would not hike interest rates soon. Domestically, sterling has been buoyed recently as investors continue to cheer the easing of strict coronavirus restrictions on economic activity. Early Tuesday, the UK’s Office for National Statistics (ONS) will release the April month Claimant Count figures together with the Unemployment Rate for the first quarter.
Bullish Preference: Buy position is envisaged if price trades above 1873.99 with take profit at 1876.85
Bearish Preference: Sell position is envisaged if price trades below 1866.43 with take profit at 1863.84
No Major Fundamental
Comments: Asian shares rose on Tuesday, shrugging off worries about an increase in regional coronavirus infections, while inflation jitters helped push gold prices to three-month highs. Gold traded around $1,869.06 an ounce, near a three-and-a-half-month high, after the Empire State Manufacturing Survey, produced by the New York Fed, showed the highest prices paid since the series began in 2001.
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