FTSE 100 started the session 0.25% higher at 7,347.2 breaking a two-day losing streak as investors turn their attention to Donal Trump’s Speech on trade deal progress.
Equity traders await the Unemployment data due at 9:30GMT; analysts expect the unemployment rate to come unchanged at 3.9%. The UK unemployment rate rose to 3.9% in the three months to August 2019 from 3.8% in the previous period. The Employment Change 3-months consensus is for 34K, the previous reading was at -56K. The Average Weekly Earnings, Total Pay (y/y) expected at 3.8%, while the Claimant Count Change is expected at 17.8K.
On the technical side, FTSE recovers today some of yesterday’s loses as the index hovers around the 100-day moving average. The index formed a death cross pattern on October 10, as the 50-day moving average crossed below the 200-day MA giving a bearish signal for FTSE.