24th Jan 2022. 7.45am
Regency View:
Morning Report – Monday 24th January
FTSE to open at 7,465 (-29 pts)
Tensions in Ukraine are starting to impact global markets with Asian stocks growing increasingly wary of a potential conflict…
On Sunday, US President Joe Biden ordered family members of its embassy staff to leave Ukraine because of the threat of “significant military action” against the country by Russia.
Looking ahead this week, the key economic event is Wednesday’s Federal Open Market Committee meeting and interest-rate decision. On the corporate earnings front, we have Apple report quarterly numbers on Thursday.
| S&P 500 | -1.89% | Bearish for UK stocks |
| Hang Seng | -1.30% | Bearish for UK stocks |
| Gold | +0.20% | Neutral for UK stocks |
| AUD/JPY | -0.09% | Neutral for UK stocks |
| US 10yr Yield | -48pts | Bullish for UK stocks |
The FTSE retraced down into the key support zone we identified in Friday’s Morning Report (the broken November highs at 7,405).
It’s worth noting that the momentum of this retracement has been stronger than the momenutm of the New Year rally – wiping out eight days of gains within two sessions.
FTSE 100 Daily Rolling Futures – Key Levels
| Trading Announcements |
| Computacenter (CCC) |
| UK Economic Announcements |
| 09:30 Markit Services PMI(Jan) PREL |
| International Economic Announcements |
| 09:00 (EUR) Markit PMI Composite(Jan) PREL |
| 14:45 (US) Markit Manufacturing PMI(Jan) PREL |
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Disclaimer:
This research is prepared for general information only and should not be construed as any form of investment advice.