Market News & Analysis

FTSE a touch higher at the end of a grim week

The FTSE seems set to close just off the weekly lows as it finds reasons to nudge slightly higher. Changes at the helm of BP where the chief executive will retire in March were greeted with a modest uptick in the share price. With the pound a touch stronger against the dollar most other gainers are the UK-consumer focused companies like Experian and Rightmove.

Asian markets were in a wait-and-see mode ahead of US non-farm payroll and September unemployment data later today with flows already reduced as China remains closed for National Day celebrations. China will continue the celebrations and market closures into next week and the Shanghai stock exchange will remain closed on Monday.

Sterling, dollar look to US jobless data later Friday

This week’s US factory data pressed the panic button on US stock markets and Friday’s job figures will be key for the next trade direction. According to Richard Clarida, the second-in-command at the Federal Reserve, the probability of a recession is not high if the Fed can set the right interest rate policy. The selloff earlier this week shows how twitchy the markets are over any slowdown in US growth. For the moment the dollar is weaker again against most majors, including the pound.

Yesterday’s signs of a recovery after the PM presented his latest Brexit plan were quickly doused with cold water by skeptical comments from the EU negotiators. Still, the pound is marginally higher on the week, if for no other reason on hopes that the no-deal option will remain off the table.


This report is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs.

GAIN Capital Singapore Pte. Ltd., may distribute reports produced by its respective foreign entities or affiliates within the GAIN Capital group of companies or third parties pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the report is distributed to a person in Singapore who is not an accredited investor, expert investor or an institutional investor (as defined in the Securities Futures Act), GAIN Capital Singapore Pte. Ltd. accepts legal responsibility to such persons for the contents of the report only to the extent required by law. Singapore recipients should contact GAIN Capital Singapore Pte. Ltd. at 6826 9988 for matters arising from, or in connection with the report.

In the case of all other recipients of this report, to the extent permitted by applicable laws and regulations neither GAIN Capital Singapore Pte. Ltd. nor its associated companies will be responsible or liable for any loss or damage incurred arising out of, or in connection with, any use of the information contained in this report and all such liability is hereby expressly disclaimed. No representation or warranty is made, express or implied, that the content of this report is complete or accurate.

GAIN Capital Singapore Pte. Ltd. is not under any obligation to update this report.

Trading CFDs and FX on margin carries a high level of risk that may not be suitable for some investors. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice. Visit for the complete Risk Disclosure Statement.

Important Notice:

Cryptocurrencies are not legal tender currency and trading of derivatives on Cryptocurrencies are currently not covered under any regulatory regime in Singapore. Consequently, investors should be aware they do not have protection under the Securities and Futures Act (Cap. 289). Please ensure that you are fully aware of the risks.