FTSE climbs to 6850 as investors continue to bank on Fed inaction on Wednesday
With little else to do the markets continued to climb this Tuesday, in another sign that investors aren’t expecting much from Janet Yellen and co. tomorrow evening.
The FTSE rose just over half a percent this morning, taking the index back to 6850 for the first time in around a fortnight. The Eurozone indices saw a similar performance, with the DAX and CAC increasing by 0.5% and 0.3% respectively. Sterling, on the other hand, lost its way after the bell; initially the pound had taken around 0.3% off the dollar, but now finds itself on the wrong side of 1.30 after falling nearly half a percent.
Looking ahead to the US open and after its gains petered out by the end of last night’s session the Dow Jones is once again aiming to cross 18200. The index is facing a 70 point increase after the bell, one that would leave it within touching distance of that aforementioned level. In terms of data this afternoon is looking pretty barren, with only the building permits (expected at 1.17 million against 1.14 million last month) and housing starts (forecast at 1.19 million compared to 1.21 million in July) to come.
