FTSE 100 Maintains an Upward Drift Following Friday’s NFP Report
by
DailyFX News
Talking points The FTSE 100 is short-term bullish above the February 29 low and price may reach the December ...
Talking points
The FTSE 100 is short-term bullish above the February 29 low and price may reach the December 12 high of 6322.
The U.S. labor market added 242k new jobs in February, which may keep stock markets bullish.
There are no market moving events on deck today.
The FTSE 100 (FXCM: UK100) is short-term bullish above the February 29 low of 6034 and may reach the next resistance level inline, which is the December 12 high of 6322. Traders who are not already long will probably see a pullback to last Thursday’s low of 6107 as an opportunity to add to their bullish exposure as the risk/reward ratio favors long positions in the 6107 to 6034 range.
On a break to the February 29 low of 6034, the trend turns bearish and FTSE 100 traders may target the February 24 low of 5839 as it’s the swing-low in line on a break to the February 29 low.
Non-Farm Payroll
The U.S. labor market added 242k new jobs in February and a net revision to January and December of 30k. This suggests that the economy is doing better than economists expected and may translate into stronger stock markets. The report also showed that the labor force participation rate increased and wage growth moderated, factors that may also aid in delaying Fed rate hikes.
The FTSE 100 is short-term bullish above the February 29 low and price may reach the December 12 high of 6322.
The U.S. labor market added 242k new jobs in February, which may keep stock markets bullish.
There are no market moving events on deck today.
The FTSE 100 (FXCM: UK100) is short-term bullish above the February 29 low of 6034 and may reach the next resistance level inline, which is the December 12 high of 6322. Traders who are not already long will probably see a pullback to last Thursday’s low of 6107 as an opportunity to add to their bullish exposure as the risk/reward ratio favors long positions in the 6107 to 6034 range.
On a break to the February 29 low of 6034, the trend turns bearish and FTSE 100 traders may target the February 24 low of 5839 as it’s the swing-low in line on a break to the February 29 low.
Non-Farm Payroll
The U.S. labor market added 242k new jobs in February and a net revision to January and December of 30k. This suggests that the economy is doing better than economists expected and may translate into stronger stock markets. The report also showed that the labor force participation rate increased and wage growth moderated, factors that may also aid in delaying Fed rate hikes.
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1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
See you there!
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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#fmas #fmas24 #fmevents #networking #finance #africa