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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 500-1.13%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+73ptsBearish 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
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)
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.