. Weekly Index Analysis - FTSE 100's Global Ride, Uncertainties and Fluctuations

Weekly Index Analysis – FTSE 100’s Global Ride, Uncertainties and Fluctuations

Weekly Index Analysis – FTSE 100’s Global Ride, Uncertainties and Fluctuations

14 Oct 2023

Introduction:

In the ever-shifting landscape of global indices, Asian markets stumble under the weight of surging bond yields, with declines seen across key indices. Meanwhile, in Europe, shares falter amidst a prevailing global risk-off sentiment, despite having notched weekly gains. In the United States, stocks face a downward trend, as geopolitical concerns and disappointing consumer sentiment data overshadow strong quarterly reports from major U.S. banks, resulting in a negative close for the day.

Market In Focus for the Next Week – FTSE 100

Though the benchmark index rose for the week, European shares fell on Friday, reflecting risk aversion across global markets and as growing energy prices added to worries about ongoing inflationary pressures.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 7599.37 | Positive Crossover | Bullish
  • MA 20: 7566.60 | Positive Crossover | Bullish
  • MA 50: 7544.72 | Positive Crossover | Bullish

Simple:

  • MA 5: 7604.48 | Positive Crossover | Bullish
  • MA 20: 7588.18| Positive Crossover | Bullish
  • MA 50: 7507.81 | Positive Crossover | Bullish

RSI (Relative Strength Index): 54.99 | Buy Zone | Bullish

Stochastic Oscillator: 90.17 | Buy Zone | Positive

Resistance And Support Levels:

  • R1: 7682.6 | R2: 7925.6
  • S1: 7495.7 | S2: 7299.5

Overall Sentiment: Bullish | Market Direction: Buy

Trade Suggestion: Stop Buy : 7748.0 | Take Profit: 7925.6 | Stop Loss: 7635.9.

Elsewhere in the Indices Market.

Asian market slips as rising yields in the bond market pressure stocks.

The Shanghai composite is down at 0.64%. Overall, the Singapore MSCI down 0.41% to 282.20. Over in Hong Kong, the Hang Seng Index down by 2.33% to 17,813.45. In Japan, the Nikkei 225 down 0.55% to 32,315.99, while the Topix index was down 1.44% to 2,308.75. South Korea’s Kospi down 0.95% to 2,456.15. Australia S&P/ASX 200 down 0.56% to, 7,051.00.

European shares fall on global risk-off mood but log weekly gains.

The DAX futures contract in Germany traded 1.55% lower, CAC 40 futures in France down 1.42% to 7,003.53 and the UK 100 futures contract in the U.K. down 0.59% to 7,599.60.

US stocks decline with data, geopolitical offset strong results.

The Middle East war and declining consumer mood data discouraged investors from taking on further risk, overshadowing positive quarterly profit reports from some of the biggest U.S. banks, and US markets ended the day lower.

Indexes: Dow up 0.12%, S&P down 0.50%, Nasdaq up 1.23%.

Corporate News:

Tesla (TSLA) down 1.70% at 254.46, Apple (AAPL) down at 1.03% at 178.85, Morgan Stanley (MS) down at 0.26% at 77.79. JPMorgan Chase & Co (JPM) up 1.50% at 148.00, Goldman Sachs Group Inc, (GS) down 0.18% at 309.30.

Key Economic Events & Data Release for Upcoming Week:

(JPY) Industrial Production (MoM) (Aug) (Monday).

(CAD) Manufacturing Sales (MoM) (Aug) (Monday).

(NZD) CPI (QoQ) (Q3) (Tuesday)

(AUD) RBA Meeting Minutes (Tuesday).

(CAD) Core CPI (MoM) (Sep) (Tuesday).

(USD) Retail Sales (MoM) (Sep) (Tuesday).

(USD) Building Permits (Sep) Wednesday

(CNY) GDP (YoY) (Q3) (Wednesday).

(EUR) CPI (YoY) (Sep) (Wednesday)

(AUD) Employment Change (Sep) (Thursday)