17th Sep 2021. 7.40am
Morning Report – Friday 17th September
FTSE to open at 7,067 (+40 pts)
Wall Street weakened yesterday after strong retail sales data raised expectations that Federal Reserve would soon begin reining in its stimulus efforts…
US retail sales increased 0.7% in August compared with July – confounding analysts who, on average had been predicting a 0.8% decline.
In contrast, this morning’s UK retail sales unexpectedly fell in August in what is now their longest streak of declines since current records began.
|S&P 500||-0.16%||Bearish for UK stocks|
|Hang Seng||+0.41%||Bullish for UK stocks|
|Gold||+0.64%||Bearish for UK stocks|
|AUD/JPY||+0.38%||Bullish for UK stocks|
|US 10yr Yield||+2.84%||Bullish for UK stocks|
The FTSE futures threatened to break higher after the cash market closed yesterday, but this lacked conviction.
This morning’s pre-open price action has seen the futures make another attempt to break higher, and we will be looking for this to hold during the opening rotation.
|Midatech Pharma (MTPH)|
|UK Economic Announcements|
|(07:00) Retail Sales|
|International Economic Announcements|
|(09:00) Current Account (EU)|
|(10:00) Consumer Price Index (EU)|
|(15:00) U. of Michigan Confidence (Prelim) (US)|
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This research is prepared for general information only and should not be construed as any form of investment advice.