Awaiting Friday’s wage packet

Awaiting Friday’s wage packet

Equities are flattish as investors adopt their usual wait-and-see approach ahead of the 1.30pm US jobs report. However, focus will be less on jobs and more on wage growth (forecast a shade slower in Feb) because it was a Jan jump in this metric which fuelled the Feb sell-off amid concerns that the Fed might over-tighten policy in anticipation of inflation, risking the economic recovery. Traders are also digesting US trade tariffs (DAX under-performing due to no news on EU exemption), China inflation and the potential for a welcome North Korean nuclear detente. A flat FTSE 100 shows positive contributions from BLT (reports of $10bn offer for shale assets, rebound from ex-div, China inflation, bounce off 200-day MA), NMC, SHP, AV (post-results rebound, breakout) and AAL (China inflation). Holding the index back are RDSB (Shell may bid for BLT shale assets), RBS, WPP (reduced ad spend) and VOD (pullback after breakout). The FTSE 100 is holding its break above 7185.  The DAX 30 is holding its break above 12275. Dow Jones Futures are flat around 24900. Gold has bounced from $1317 to test falling highs resistance.”

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Accendo Markets

Accendo Markets is an online trading services provider, offering CFDs, spread betting and forex to retail (private) clients. Accendo Markets was established in 2007 and has since gone on to win various awards including ‘2018 Winner of Best CFD provider’ at City of London Wealth Management awards and 2017 & 2018 Best CFD Research Service in ADVFN’s International Financial Awards Accendo Markets Ltd. is authorised and regulated by the Financial Conduct Authority (FCA). For more information, visit