Zak Mir, Technical Analyst at Share Prophet joined Nick Batsford of Tip TV and Bill Hubard, Economist for the morning round up.
Iran deal to impact FTSE 100?
Mir started by noting that the Iran deal has appeased Oil bears and the dip in prices is boding well for airlines. Bil Hubard, Economist added that due to the nature of constituents in the FTSE 100, the Iran deal could lead to a bit of instability in the index ahead. Mir added that at present the FTSE 100 remains an underperformer.
Looking to the S&P 500, Mir notes a bullish outlook for the index, commenting that it is heading back towards its May 2015 high at 2134.74. He adds that the 14 day RSI has just crossed neutral to the upside at 55, but still has a way to go before it becomes oversold.
Euro to break up?
Elsewhere, Hubard commented that in private chats, he has head big name economists start to question whether the euro can survive as a currency,