23rd Jun 2021. 7.48am
Regency View:
Morning Report – Wednesday 23rd June
FTSE to open at 7,099 (+9 pts)
Comments from Fed Chair Jerome Powell seemed to calm markets yesterday, ending two consecutive sessions of wild swings.
Speaking before a U.S. House of Representatives panel, Mr Powell said “we will wait for evidence of actual inflation or other imbalances”.
Our Risk Barometer looks bullish as we head into the European open, with gold and bond yields consolidating near short-term lows, and stocks rallying.
| S&P 500 | +0.51% | Bullish for UK stocks |
| Hang Seng | +1.42% | Bullish for UK stocks |
| Gold | +0.11% | Neutral for UK stocks |
| AUD/JPY | +0.22% | Bullish for UK stocks |
| US 10yr Yield | -1.77% | Neutral for UK stocks |
Yesterday’s price action saw the FTSE form a small ‘doji’ candle right on the mid-point between last Wednesday’s high and Monday’s low – indicating that the market is indecisive and in short-term equilibrium.
We are still of the few that a retest of the broken trendline should see selling pressure increase.
FTSE 100 Daily Rolling Futures – Key Levels
| Final Results |
| Berkeley Group (BKG) |
| Liontrust Asset Management (LIO) |
| Manolete Partn. (MANO) |
| Trading Announcements |
| Joules Grp (JOUL) |
| International Economic Announcements |
| (12:00) MBA Mortgage Applications (US) |
| (13:30) Current Account (US) |
| (15:00) New Homes Sales (US) |
| (15:30) Crude Oil Inventories (US) |
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Disclaimer:
This research is prepared for general information only and should not be construed as any form of investment advice.