European Open: EUR/GBP probes April high ahead of UK retail data

Asian Indices:

• Australia's ASX 200 index fell by -93.7 points (-1.37%) and currently trades at 6,749.20
• Japan's Nikkei 225 index has fallen by -297.44 points (-1.07%) and currently trades at 27,578.47
• Hong Kong's Hang Seng index has fallen by -96.36 points (-0.51%) and currently trades at 18,834.02
• China's A50 Index has fallen by -172.96 points (-1.3%) and currently trades at 13,181.70

UK and Europe:

• UK's FTSE 100 futures are currently down -44.5 points (-0.61%), the cash market is currently estimated to open at 7,237.57
• Euro STOXX 50 futures are currently down -29 points (-0.82%), the cash market is currently estimated to open at 3,512.79
• Germany's DAX futures are currently down -120 points (-0.93%), the cash market is currently estimated to open at 12,836.66

US Futures:

• DJI futures are currently down -186 points (-0.6%)
• S&P 500 futures are currently down -101.5 points (-0.85%)
• Nasdaq 100 futures are currently down -26 points (-0.67%)

• Stronger than expected data from China, and hints from the RBA governor that it is closer to normalising rates saw NZD and AUD as the strongest majors overnight.
• A BOJ official and South Korean Finance Minister were both on the wires saying they are looking at ways to stabilise their currencies after excessive depreciation.
• Gold remains anchored to yesterday’s low after closing beneath the 2021 low on strong momentum.
• US and European futures are pointing to a weak of open for cash market indices.

EUR/GBP 4-hour chart:

A strong bullish trend has developed on EUR/GBP, although it has so far struggled to break convincingly above the April high. But a defining rally since September is that the more volatile days are bullish, with yesterday’s rally from the monthly pivot being the most recent example. The weekly R1 pivot

FTSE 350 – Market Internals:

FTSE 350: 4034.88 (0.07%) 15 September 2022

• 188 (53.71%) stocks advanced and 152 (43.43%) declined
• 2 stocks rose to a new 52-week high, 23 fell to new lows
• 24.29% of stocks closed above their 200-day average
• 63.14% of stocks closed above their 50-day average
• 4.86% of stocks closed above their 20-day average

Outperformers:

• + 17.05% - Aston Martin Lagonda Global Holdings PLC (AML.L)
• + 8.16% - Carnival PLC (CCL.L)
• + 6.41% - Redrow PLC (RDW.L)

Underperformers:

• -28.27% - Hilton Food Group PLC (HFG.L)
• -5.28% - Cranswick PLC (CWK.L)
• -4.90% - WAG Payment Solutions PLC (WPS.L)

Economic events up next (Times in BST)

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