19th Feb 2021. 7.45am
Regency View:
Morning Report – Friday 19th February
FTSE to open at 6,607 (-10 pts)
European equities are set for a mildly bearish open.
Asian indices continued to retreat from highs, but it should be noted that they have erased much of their losses as we head towards the London open.
For those of you trading gold, the metal hit long-term support $1764 overnight, printing a seven month low.
| S&P 500 | -0.44% | Bearish for UK stocks |
| Hang Seng | -0.09% | Neutral for UK stocks |
| Gold | -0.23% | Neutral for UK stocks |
| AUD/JPY | +0.33% | Bullish for UK stocks |
| US 10yr Yield | +0.91% | Bullish for UK stocks |
The FTSE erased its gains for the week yesterday and that is far from a bullish sign.
However, the market is now back at a confluent area of support which is represented by a retest of top of the broken mini-range and the ascending trendline.
This area needs to hold for the early-Feb recovery story to continue.
FTSE 100 Daily Rolling Futures – Key Levels
| Final Results |
| Natwest Grp (NWG) |
| Segro (SGRO) |
| TBC Bank Group (TBCG) |
| Q4 Results |
| Natwest Grp (NWG) |
| TBC Bank Group (TBCG) |
| UK Economic Announcements |
| (00:01) GFK Consumer Confidence |
| (07:00) Retail Sales |
| International Economic Announcements |
| (07:00) Producer Price Index (GER) |
| (09:00) Existing Home Sales (US) |
| (09:00) Current Account (EU) |
| (10:00) Consumer Price Index (EU) |
| (13:30) Building Permits (US) |
| (15:00) Existing Home Sales (US) |
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Disclaimer:
This research is prepared for general information only and should not be construed as any form of investment advice.