16th Jul 2021. 7.42am
Regency View:
Morning Report – Friday 16th July
FTSE to open at 7,030 (+18 pts)
Concerns have shifted from inflation to the health of the global economy…
U.S Government debt rallied (10yr yield fell) and stocks slid as stuttering Chinese economic growth and the spread of the Delta variant caused an increase in risk aversion.
Today, the markets will be focused on this afternoon’s U.S retail sales number and Michigan Consumer Confidence Index reading.
| S&P 500 | -1.13% | Bearish for UK stocks |
| Hang Seng | -1.10% | Bearish for UK stocks |
| Gold | +0.54% | Bearish for UK stocks |
| AUD/JPY | -0.18% | Neutral for UK stocks |
| US 10yr Yield | +73pts | Bearish for UK stocks |
The FTSE pressed down into the 7,000 support zone we’ve highlighted in previous Morning Reports.
Prices closed below the ascending trendline, and a move towards the 6,945 swing lows look the next logical step as we head into the weekend.
FTSE 100 Daily Rolling Futures – Key Levels
| Interim Results |
| Thungela Res (TGA) |
| Mti Wireless (MWE) |
| UK Economic Announcements |
| (00:01) RICS Housing Market Survey |
| International Economic Announcements |
| (07:00) Wholesale Price Index (GER) |
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Disclaimer:
This research is prepared for general information only and should not be construed as any form of investment advice.