MPC you in May

MPC you in May

Equities are firmly in the red, reacting to the trio of mixed guidance from the Fed (short term unchanged, long-term steeper hiking), the threat of a global trade war (Trump to announce tariffs on Chinese imports) and disappointing European PMIs. The Bank of England has also struck a slightly more hawkish tone (2 voted for a hike), adding to GBP strength resulting from USD weakness, to remain a FTSE hindrance. However, it’s Germany’s DAX which underperforms, albeit only marginally, and despite EUR off highs. The FTSE 100 is under water thanks to HSBC/BARC(less hawkish Fed near-term), BATS (breakdown, ex-div), VOD (breakdown), RIO/GLEN/BLT (stronger GBP), GSK (RB pulled out of race for Pfizer assets) and BP (oil off highs, stronger GBP), with the only real support from RB (pulled out of M&A). The FTSE 100 has breached twin support at 7000.  The DAX 30 is edging back towards last week’s lows of 12120. Dow Jones Futures has reversed yesterday’s spike higher. Gold’s breakout (on USD weakness) has been halted at $1336.”

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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