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22nd Apr 2021. 7.46am

Regency View:

Morning Report – Thursday 22nd April

FTSE to open at 6,933 (+38 pts)

The S&P bounced back after two straight day’s of declines…

Interestingly, yesterday’s rally totally erased Tuesday’s losses and this is a very bullish sign. Asian stocks have followed suit, but they remain well below Monday’s highs.

The market will be focused on today’s ECB rate decision and policy statement. There are rumours that more hawkish members of the ECB governing council are trying to push for scaling back its huge bond-buying programme, despite rising Covid-19 infections and continued lockdowns in many European countries.

Should the ECB strike a more hawkish tone, the market will almost certainly respond negatively.

S&P 500+0.93%Bullish for UK stocks
Hang Seng+0.45%Bullish for UK stocks
Gold-0.15%Neutral for UK stocks
AUD/JPY-0.07%Neutral for UK stocks
US 10yr Yield-0.91%Neutral for UK stocks
Regency Risk Barometer Snapshot

?Risk Barometer Explained

The FTSE bounced from the short-term swing support level at 6,852 yesterday. It now looks as though we will retest resistance at 6,961…

Given the strength of Tuesday’s sell-off relative to yesterday’s bounce, we’d expect selling pressure to kick back in at resistance.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
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Q1 Results
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(09:00) IFO Current Assessment (GER)
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(10:00) Existing Home Sales (US)
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Today’s Financial Diary

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Disclaimer:

This research is prepared for general information only and should not be construed as any form of investment advice.