Global Markets Braced for Brexit Chaos and Italian Showdown

SPX

Equity Analysis and News

  • FTSE 100 | Brexit Uncertainty to Persist, Key Support Tested
  • SP 500 | 2700 Curbs Further Losses, Risk Barometer Points to Indecision
  • FTSE MIB | Italian Budget Showdown Continues

For more information, check out Justin’s weekly webinar where he discussed the impact of Brexit and Italy.

As of 1720GMT Nov 16th

FTSE 100 | Brexit Uncertainty to Persist, Key Support Tested

The political backdrop looks bleak for the UK as PM May struggles to bring her party together to support her Brexit plans. Unlike the Pound, this has not led to a large degree of strong selling in the FTSE 100. Partly because the sell-off in the Pound has eased the downside for the more internationally exposure FTSE 100. On the technical front, the 7000 level continues to provide firm support and curb the index of further selling. However, given the uncertainty over Brexit and with a leadership challenge potentially on the horizon, risks remain tilted to the downside. A break and close below

Article source: https://www.dailyfx.com/forex/fundamental/article/special_report/2018/11/16/Global-Markets-Braced-for-Brexit-Chaos-and-Italian-Showdown.html