15th February 2018
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The US consumer price index rose 0.5 percent from the previous month, above the median estimate of economists for a 0.3 percent increase. Excluding volatile food and energy costs, the so-called core gauge increased 0.3 percent, also above forecasts for 0.2 percent. It was up 1.8 percent from a year earlier, higher than the 1.7 percent estimate. However, prices soon recovered and the S&P rose back above 2700 by the end of the session and overnight.
The FTSE 100 long worked well – despite turning into a knife catch at the time, with the rise from the 7150 area gaining some decent points. The rise has continued overnight on the futures as Asia continues the buying. Looking like we will test the 7265 resistance shortly.
FTSE 100 Forecast and Prediction
For today we have the hurdle at 7265 to jump but generally I am thinking that keeping the “buy the dip” mentality that we have had all week is the best play. There is decent looking support at the 7205 level this morning and a drop down to that level would be worth a long.
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