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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 500-0.63%Bearish for UK stocks
Hang Seng-0.79%Bearish for UK stocks
Gold-0.16%Neutral for UK stocks
AUD/JPY+0.45%Bullish for UK stocks
US 10yr Yield+43ptsBearish for UK stocks
Regency Risk Barometer Snapshot

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

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Hill & Smith (HILS)
Spirax-Sarco (SPX)
Balfour Beatty (BBY)
National Express (NEX)
Spirent (SPT)
Just Group (JUST)
Savills (SVS)
Secure Income Reit (SIR)
Oakley (OCI)
Interim Results
Brooks (BRK)
Volution Group PLS (FAN)
UK Economic Announcements
(00:01) RICS Housing Market Survey
(07:00) Industrial Production
(07:00) Manufacturing Production
(07:00) Balance of Trade
(07:00) Gross Domestic Product
(07:00) Index of Services
International Economic Announcements
(12:45) ECB Interest Rate (EU)
(13:30) Continuing Claims (US)
(13:30) Initial Jobless Claims (US)
(13:30) Consumer Price Index (US)
Today’s Financial Diary

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Disclaimer:

This research is prepared for general information only and should not be construed as any form of investment advice.