Correction FTSE Up Ahead of FOMC Meeting

Correction FTSE Up Ahead of FOMC Meeting - Correction FTSE Up Ahead of FOMC Meeting - FTSE opened gap down but rebounded Wednesday, sentiment continued to strengthen on Tuesday and supported sentiment on Wall Street and Asian markets today. Correction rise occurs seen as an act of positioning of the market ahead of the Fed interest rate decision next Friday.

The market remains stuck on the possibility of a Fed rate hike at its 2-day meeting that starts today, and US economic data overnight did not provide direction dominant.

US exchanges rose 1% overnight helped by data showing healthy growth in consumer spending, although retail sales data in August, slightly below expectations. Manufacturing data remained weak, stressed the impact of the strengthening dollar on exporters, foreign economic weakness and lower crude oil prices.

Trend sideway.

Res: 6217.5 - 6292.0 - 6366.5
Supp: 6134.5 - 6097.0 - 6051.0