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12th Mar 2021. 7.46am

Regency View:

Morning Report – Friday 12th March

FTSE to open at 6,701 (-36 pts)

US stocks came within touching distance of all time highs yesterday as tech giants which had been hit over the last month started to bounce back. Tesla were up 4.7%, while Amazon and Apple gained more than 1.5%.

The ECB pledged to speed up its asset purchases to combat the recent jump in bond yields and this was welcomed by European stocks.

However, US bond yields have jumped higher overnight – causing Asian stocks to weaken and European equity futures to soften as we head towards the open.

S&P 500+1.04%Bullish for UK stocks
Hang Seng-2.01%Bearish for UK stocks
Gold-0.66%Bullish for UK stocks
AUD/JPY+0.02%Neutral for UK stocks
US 10yr Yield+2.37%Bearish for UK stocks
Regency Risk Barometer Snapshot

With the FTSE treading water above the 6,705 broken resistance / new support level, it’s a very similar scenario to yesterday’s pre-market analysis…

While the market holds above support, the next logical level to move towards is the February highs at 6,800.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
UK Economic Announcements
(07:00) Gross Domestic Product
(07:00) Index of Services
(07:00) Manufacturing Production
(07:00) Balance of Trade
(07:00) Industrial Production
International Economic Announcements
(07:00) Consumer Price Index (GER)
(10:00) Industrial Confidence (EU)
(13:30) Producer Price Index (US)
Today’s Financial Diary

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