FTSE 100: Lack of data allows traders to stew

FTSE 100: Lack of data allows traders to stew

**Mike van Dulken, Head of Research at Accendo Markets, commented to clients this morning;**

With a lack of macro data to scare or please, the index has continued to give up ground from recent highs and moved into a falling channel from the middle of last week. This provides a ceiling at 6850 which needs to be broken if we are to return to highs of 6897 and a floor around the 6770 lows of early May which needs to hold if any subsequent weakness is to be halted.
Beware another quiet session with only UK Inflation data to be reported although we do have ECB and Fed speakers to provide potentially market-moving comments given the importance of the ECB’s next move on stimulus and the Fed’s path to policy normalization.

By Harry Atkins
Harry joined us in 2019 to lead our Editorial Team. Drawing on more than a decade writing, editing and managing high-profile content for blue chip companies, Harry’s considerable experience in the finance sector encompasses work for high street and investment banks, insurance companies and trading platforms.

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