(Alliance News) – The FTSE 100 is expected to edge into the red at Tuesday’s open, with a strong pound likely to hinder progress for many of its overseas earners.
The pound crossed over the USD25 mark following hawkish comments from the UK’s central bank. Data from the Office for National Statistics revealed that UK public sector borrowing continued at record highs in October.
Meanwhile, the dollar was weaker against other major currencies as well, as investors awaited the latest minutes from the US Federal Reserve’s meeting earlier this month.
Another key point of focus for the day will be Nvidia’s third-quarter results, due after the New York market close. The chipmaker has been the prime beneficiary of the excitement surrounding the AI sector, with its stock more than tripling in value since the beginning of the year.
“Expect volatility in the wake of the earnings announcement of the year’s most loved and intriguing company. Options trading implies that we could see a positive or a negative swing of around 8% after the earnings report hits the ground,” said Ipek…
