The rally continues, with US markets making fresh headway and the Nikkei 225 taking off to the upside once again.
Daily Technicals
The FTSE 100 remains under pressure in early trading, while both the Dax and Dow hold on near their previous highs.
Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger NZD/USD-bullish contrarian trading bias.
Outlook on FTSE 100, DAX 40 and S&P 500 ahead of Friday’s US Non-Farm Payrolls.
01 Feb: Fed and BoE go away rates of interest untouched, Apple, Amazon, and Meta earnings subsequent
The Fed and the BoE have left monetary policy levers untouched and continue to push back against aggressive market rate expectations. Next up, the last three of the Magnificent Seven tech companies report earnings.
Germany and the Euro Area both avoided entering a technical recession by the barest of margins, but the outlook remains gloomy for both.
Indices have made gains once more, though US indices face a major test with big tech earnings, a Fed decision and payrolls data all happening this week.