14th Oct 2022. 7.46am
Morning Report – Friday 14th October
FTSE to open at 6,943 (+93 pts)
PLEASE NOTE: Today will be our last Morning Report bulletin. Moving forward, we will be focusing on our trader education service, Regency Academy. You can sign up to our FREE course, Seven Secrets of Price Action Trading by CLICKING HERE.
US stocks rallied sharply yesterday despite US inflation coming in hotter than expected…
The core CPI reading, which excludes food and energy prices, came in at 6.6%, above expectations of 6.5% and the previous month’s reading.
Asian stocks have mirrored the gains on Wall Street with the Hang Seng and Nikkei 225 up more than 2%.
|S&P 500||+2.60%||Bullish for UK stocks|
|Hang Seng||+2.53%||Bullish for UK stocks|
|Gold||+0.30%||Bearish for UK stocks|
|AUD/JPY||+0.91%||Bullish for UK stocks|
|US 10yr Yield||+49pts||Bearish for UK stocks|
Having momentarily broke below support, buyers stepped in to drive the market higher – printing a large bullish hammer candle in the process.
The next step for the bulls will be to swiftly break above the descending trendline which has formed in recent weeks.
|Jupiter Fund Management (JUP)|
|Thorpe (F.w) (TFW)|
|International Economic Announcements|
|(07:00) Wholesale Price Index (GER)|
|(07:00) Consumer Price Index (GER)|
|(10:00) Balance of Trade (EU)|
|(13:30) Retail Sales (US)|
|(13:30) Import and Export Price Indices (US)|
|(15:00) U. of Michigan Confidence (Prelim) (US)|
|(15:00) Business Inventories (US)|
Don’t have a Regency account yet?
Start receiving our actionable Market Alerts and Analysis with real-time email and SMS alerts throughout your trading day. Simply click below to create your account for free.Create Account
This research is prepared for general information only and should not be construed as any form of investment advice.