Quote from Nick on 16th July 2026, 9:00 am

Technical analysis for 16th July 2026

We head into Thursday with the markets facing a difficult balance between softer inflation data, improving corporate earnings and another escalation in the Middle East. The latest US inflation figures have helped calm some of the immediate fears surrounding interest rates. Markets now see a much lower probability of the Federal Reserve raising rates this month, which should ordinarily provide a supportive backdrop for equities.

However, oil remains the problem. Brent crude is still trading close to $85 as renewed US strikes on Iranian targets and the disruption around the Strait of Hormuz keep the threat of a wider conflict firmly on the table. That means the market cannot completely relax about inflation.

At the same time...................

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