​​Outlook on FTSE 100, DAX 40 and S&P 500 as UK inflation comes in higher-than-expected.

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Gold prices may be in for a wake up call after weeks of minimal price action as markets gear up for Fed Chair Jerome Powell’s Testimony.

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UK headline inflation came in higher than expected but the core inflation print accelerated once more. Will the data inspire a more hawkish approach from the BoE heading into tomorrow’s meeting?

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The S&P 500 and the Nasdaq 100 index are looking overbought and have run into stiff resistance areas, raising the risk of a minor retreat, especially if Fed Chair Powell’s tone later Wednesday is hawkish. What is the outlook and what are the key levels to watch?

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Major US indices kicked off the shortened trading week in the red, although the sharp paring of losses mid-day especially in the Nasdaq may still reflect some strength in buyers.

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