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Looking bearish with 7530 7490 support | 7601 7620 7648 resistance

#1 · 16th January 2024, 10:22 am

Technical analysis for FTSE 100 for 16th January 2024

The UK's FTSE 100 fell on Monday, hurt by a sell-off in luxury and bank stocks, while lacklustre corporate earnings forecasts weighed on the FTSE 250 shares. The blue-chip FTSE 100 slid 0.4%, while the midcap FTSE 250 index was flat at the close.

Investors are awaiting British consumer price inflation data and retail sales figures for December, both of which are due later this week, for more clarity on the timing of expected interest rate cuts. The Bank of England seems to be a relatively hawkish outlier compared to the Federal Reserve and the European Central Bank as they have stuck to their higher-for-longer policy rhetoric.