The FTSE 100 opened strongly on Tuesday morning on the back of increasing optimism that US President Barack Obama and House Speaker John Boehner will be able to strike a deal by the end of the year to avert the 'fiscal cliff'.
Without a deal by the January 1st deadline, the $600bn in automatic spending cuts and tax increases which come into effect are expected to pull the US economy back into recession.
Markus Huber, the head of German HNW trading at ETX Capital said this morning that with the end of the year approaching fast and an empty economic data schedule, focus will mostly be on US budget negotiations and "the smallest hint of progress or setback can have a substantial impact on the markets.
FTSE100 4hrs
Hey The FTSE100 failed my abc sell trigger now just hanging at resistance @ 5929.1
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