11th Mar 2022. 7.52am
Regency View:
Morning Report – Friday 11th March
FTSE to open at 7,128 (+29 pts)
The ECB said yesterday that it would reduce its bond-buying scheme earlier than initially planned, damping expectations that the central bank would keep stimulus flowing due to the impact of the Ukraine war.
The hawkish comments from the ECB saw stocks drop, with traders on Wall Street also concerned about rampant inflation as US consumer prices rose by an annual pace of 7.9% in February.
Overnight in Asia, stocks have erased the majority of Thursday’s gains, with the Hang Seng and Nikkei down more than -1% on the day.
S&P 500 | -0.43% | Bearish for UK stocks |
Hang Seng | -1.30% | Bearish for UK stocks |
Gold | -0.44% | Bullish for UK stocks |
AUD/JPY | +0.39% | Bullish for UK stocks |
US 10yr Yield | +54pts | Bearish for UK stocks |
After a two-day bounce from support, the FTSE ran out of steam yesterday – dropping back from the broken support level at 7,200.
As mentioned yesterday, we’ll be watching closely to see if the market continues to find resistance at broken support.
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Disclaimer:
This research is prepared for general information only and should not be construed as any form of investment advice.