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16th Apr 2021. 7.05am

Regency View:

Morning Report – Friday 16th April

FTSE to open at 6,999 (+16 pts)

The S&P surged back to make new highs yesterday following a raft of strong economic data and reassurances that the Fed will continue to support financial markets.

US retail sales for March jumped by their highest amount in over 10 months, while initial jobless claims fell by 193,000 last week to 576,000, beating market expectations for 700,000 new claims.

The bullish sentiment has continued in Asian trading with Hong Kong’s Hang Seng index up 0.71%.

S&P 500+1.11%Bullish for UK stocks
Hang Seng+0.71%Bullish for UK stocks
Gold+0.10%Neutral for UK stocks
AUD/JPY+0.01%Neutral for UK stocks
US 10yr Yield+0.11%Neutral for UK stocks
Regency Risk Barometer Snapshot

The FTSE broke and closed decisively above key resistance, hitting new highs for the year.

Whilst we should never rule out a false breakout scenario whereby the market closes back below support today, yesterday’s price action was undoubtedly bullish and we are expecting the broken resistance level to provide support moving forward.

The market is set to open just below the psychologically significant 7,000 marker and it will be interesting to see if this price point creates some resistance heading into the weekend.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Q1 Results
Pjsc Sev. Regs (SVST)
Trading Announcements
Ashmore (ASHM)
Essentra (ESNT)
International Economic Announcements
(10:00) Balance of Trade (EU)
(10:00) Consumer Price Index (EU)
(13:30) Housing Starts (US)
(13:30) Building Permits (US)
(15:00) U. of Michigan Confidence (Prelim) (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.