FTSE 100 Climbs

Analisi Giornaliera - 20/03/2020

Government stimulus gives hope to market

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The FTSE 100 added more than 5 percent just after Friday open, but then fell back to sit at 1 percent gains by mid-afternoon. Shell oil and BP gave the FTSE 100 a boost after US President Donald Trump hinted that an intervention over the oil price war going on between Russia and Saudi Arabia might be in the cards. The small FTSE 250 surged beyond 7 percent as the Chancellor of the Exchequer, Rishi Sunak announced plans to help companies and workers during the coronavirus pandemic.

Slight Market reversal/correction


As the American production machinery fires up and her mammoth resources are marshalled as no other nation in history can, hope buoys traders that the virus can be beaten. It is only hope, but traders are humans. We see a slight reversal in the indices today with the Dax up and looking to continue its buying throughout the day. This could change rapidly. As with ALL trading signal and indicators, we need to be vigilant, finger on the buy/sell button. This is a volatile situation.

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US dollar gives back a bit


Associated with the correction today we see the greenback giving back some of the ground generally gained at the expense of virtually every currency, major and minor on the planet. It is a good opportunity to counter trade the prevailing trend. Remember, the prevailing trend is sharply down, in the sense of weakness in all currencies except the greenback. This secular trend will strengthen as the US response is seen to be achieving results, or not. Cable is at 1.18734 and rising.

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Copper sees buyers


As the essential base metal of the industrialized civilization Copper is a powerful indicator of manufacturing activity and therefore economic activity. The uptick is a good sign that hope prevails. Recovery is still a long way away but buyers there are, though they may not stay out of their caves for long. Copper today is trading at 2.2100 and rising.

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