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FTSE higher ahead of Sunak’s budget statement – FTSE 100 Market Outlook – 03/03/2021

SquaredFinancial

The FTSE100 finished strong yesterday on vaccine optimism with the UK blue-chip index setting up for a strong start in today’s session ahead of UK’s Annual Budget release around noon, followed by Rishi Sunak’s budget statement which is expected to address the impact of the pandemic and give guidance for future rate hikes as well as extend the furlough scheme until the end of September 2021. However, we expect Sunak will hold off on raising corporate taxes for now until some sort of normality has resumed, and this will help keep London equities strong today, with 6700 as next resistance level for the Footsie.

Support: 6650 / 6620
Resistance: 6670 / 6700

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/ftse-higher-ahead-of-sunaks-budget-statement-ftse-100-market-outlook-03-03-2021
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