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17th Sep 2021. 7.40am

Regency View:

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
Regency Risk Barometer Snapshot

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.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Interim Results
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)
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.