13th May 2022. 7.47am
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
|Sage Group (SGE)|
|International Economic Announcements|
|(10:00) Industrial Production s.a. (MoM)(Mar) (EU)|
|(15:00) Michigan Consumer Sentiment Index (May) (US)|
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This research is prepared for general information only and should not be construed as any form of investment advice.