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17th Dec 2021. 7.29am

Regency View:

Morning Report – Friday 17th December

FTSE to open at 7,244 (-16 pts)

The Bank of England raised interest rates from 0.1% to 0.25%, its first increase in more than three years…

“We’ve seen evidence of a very tight labour market and we’re seeing more persistent inflation pressures,” said Andrew Bailey, BoE governor, after the MPC meeting. “We’re concerned about inflation in the medium term” he added.

UK stocks seemed to shrug off the rate rise and hawkish comments, US stocks on the other hand put in a bearish reversal from highs.

S&P 500-0.87%Bearish for UK stocks
Hang Seng-1.19%Bearish for UK stocks
Gold+0.47%Bearish for UK stocks
AUD/JPY-0.28%Bearish for UK stocks
US 10yr Yield-3.36%Bullish for UK stocks
Regency Risk Barometer Snapshot

The FTSE futures gave up some gains as Wall Street weakened into the New York closing bell yesterday.

We’re set to open back at the support zone, and the market needs to finish the week above it in order to maintain its bullish price structure.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
UK Economic Announcements
07:00 Retail sales (Nov)
International Economic Announcements
10:00 European Consumer Price Index (Nov)
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.