FTSE 100 Poised to Extend Gains Despite AstraZeneca Vaccine Concerns

By Daniel Moss4 days ago


FTSE 100, AstraZeneca Vaccine, UK PMI, UK Reopening, IGCS – Talking Points:

  • Equity markets were buoyant during APAC trade on the back of dovish FOMC commentary.
  • The UK benchmark FTSE 100 index may shrug aside coronavirus vaccine concerns and push to fresh post-crisis highs in the coming days.

Asia-Pacific Recap

Equity markets followed through on a relatively positive Wall Street session overnight in Asia-Pacific trade, as the release of the FOMC’s March meeting minutes reinforced the central bank’s commitment to maintaining its accommodative monetary policy approach.

Australia’s ASX 200, China’s CSI 300, and Hong Kong’s Hang Seng Index all marched higher, while tightening virus restrictions in Tokyo weighed on Japan’s Nikkei 225. In FX markets, AUD, NZD and GBP gained ground alongside the lower-beta JPY and CHF. Gold prices consolidated around $1740 per troy ounce as yields on US 10-year Treasuries drifted 1 basis point lower.

Looking ahead, US weekly jobless claims figures and minutes from the European Central Bank’s monetary policy meeting in March headline the economic docket.

DailyFX Economic Calendar

FTSE 100 May Dismiss Vaccine Concerns and Extend Gains

The UK benchmark FTSE 100 index may shrug aside recent coronavirus vaccine concerns, and continue pressing higher as the economy progresses into the next stage of Prime Minister Boris Johnson’s four-stage reopening plan.

Continue read on dailyfx.com