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15th Jul 2021. 7.46am

Regency View:

Morning Report – Thursday 15th July

FTSE to open at 7,074 (-17 pts)

Yesterday’s testimony from Fed Chair Jerome Powell kept to his unwavering stance that the current levels of high inflation would be transitory…

Mr Powell reiterated the central bank’s commitment to maintaining its stimulus until there was more certainty around the strength of the economic recovery. The yield on U.S. 10yr treasuries dropped back on the comments while the reaction on the S&P 500 was relatively muted.

This morning’s UK unemployment data came in slightly higher than exceptions, with the 3-month unemployment rate at 4.8% versus 4.7% expected.

S&P 500-1.13%Bearish for UK stocks
Hang Seng-1.10%Bearish for UK stocks
Gold+0.54%Bearish for UK stocks
AUD/JPY-0.18%Neutral for UK stocks
US 10yr Yield+73ptsBearish for UK stocks
Regency Risk Barometer Snapshot

?Risk Barometer Explained

Yesterday’s price action saw the FTSE move lower from Tuesday’s small-range candle. We would expect to see a retest of the support area created by the ascending trendline (gold dotted line) and the cluster of swing lows just above 7,000.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Interim Results
Thungela Res (TGA)
Mti Wireless (MWE)
UK Economic Announcements
(00:01) RICS Housing Market Survey
International Economic Announcements
(07:00) Wholesale Price Index (GER)
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.