7th March 2018
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Frustratingly early with with the FTSE short yesterday as the FTSE 100 rose towards 7200 in morning trading, but then declined from there, accelerating as news broke that Donald Trump’s top economic advisor, Gary Cohn, was to resign. They disagree over the trade tariffs and now it looks likely that we may see these trade tariffs/wars. As news broke of the resignation, the dollar slid, stocks tumbled and Treasuries climbed. The greenback fell 0.5 percent against the yen — often a haven in turmoil in Tokyo trading. S&P 500 Index futures dropped 1.1 percent, and equities retreated. Ten-year Treasury yields fell more than 4 basis points, to 2.84 percent.
FTSE 100 Forecast and Prediction
So, whats in store for today? US politics never make it easy trying to predict the markets! We are currently sat on 2 hour support across the board at 7099 FTSE 100, 2690 S&P and 11983 on the Dax. If these areas hold, at least initially, we should get a bit of a bounce this morning. Obviously the prospect of trade wars and tariffs have been having a negative effect on markets as you know, so know that Cohn is gone and these look more likely there is a strong argument for further declines.
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