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16th Sep 2022. 7.36am

Regency View:

Morning Report – Friday 16th September

FTSE to open at 7,244 (-38 pts)

Stocks on Wall Street traded lower on Thursday despite better-than-expected economic data…

US retail sales for August increased 0.3%, beating forecasts of 0%, and initial jobless claims were lower than expected. Traders instead chose to focus on next week’s Fed rate decision, and the S&P moved lower to retest last week’s lows.

Overnight in Asia, stocks have followed Wall Street lower with the Hang Seng dropping -0.68%.

S&P 500-1.13%Bearish for UK stocks
Hang Seng-0.68%Bearish for UK stocks
Gold-0.21%Neutral for UK stocks
AUD/JPY+0.08%Neutral for UK stocks
US 10yr Yield+48ptsBearish for UK stocks
Regency Risk Barometer Snapshot

Yesterday’s price action saw the FTSE drift lower and retest the bottom of Wednesday’s range.

Yesterday’s daily range was the narrowest the FTSE has printed in over seven sessions and this indicates that volatility is contracting ahead of another directional move.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
UK Economic Announcements
(07:00) Retail Sales
International Economic Announcements
(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.