13th May 2022. 7.47am
Regency View:
Morning Report – Friday 13th May
FTSE to open at 7,297 (+64 pts)
Stocks continued to sell-off on both sides of the Atlantic yesterday as traders sought refuge in the US dollar…
The dollar index, which measures the strength of the US currency against a basket of six others, rose 1% to 104.83 points – a level it last touched in 2002.
Overnight, Asian shares have bounced with the Hang Seng and Nikkei both more than +2% higher on the day – causing European futures to follow suit.
| S&P 500 | -0.13% | Neutral for UK stocks |
| Hang Seng | +2.33% | Bullish for UK stocks |
| Gold | +0.04% | Neutral for UK stocks |
| AUD/JPY | +0.77% | Bullish for UK stocks |
| US 10yr Yield | -52pts | Bullish for UK stocks |
Yesterday’s price action saw the FTSE close below Wednesday’s bearish pin-bar candle – confirming a new lower swing high.
We now have the potential for a small consolidation range to develop between Wednesday’s swing high at 7,357 and this week’s lows at 7,157
FTSE 100 Daily Rolling Futures – Key Levels
| Interim Results |
| Sage Group (SGE) |
| Trading Announcements |
| ContourGlobal (GLO) |
| International Economic Announcements |
| (10:00) Industrial Production s.a. (MoM)(Mar) (EU) |
| (15:00) Michigan Consumer Sentiment Index (May) (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.