1st Oct 2021. 7.37am
Regency View:
Morning Report – Friday 1st October
FTSE to open at 7,007 (-79 pts)
Stocks on both sides of the Atlantic failed to hold onto their gains yesterday as fears of ‘stagflation’ continue to grow.
And the US dollar hit one-year highs as traders anticipate US interest rate rises. Despite the dollar strength, gold rallied 1.8% yesterday – signalling that risk aversion is increasing.
Looking ahead to today’s session, we have manufacturing PMI data from the UK, Germany, EU and US.
| S&P 500 | -1.19% | Bearish for UK stocks |
| Hang Seng | -0.36% | Bearish for UK stocks |
| Gold | -0.16% | Neutral for UK stocks |
| AUD/JPY | -0.45% | Bearish for UK stocks |
| US 10yr Yield | -1.57% | Bullish for UK stocks |
Yesterday’s price action saw the FTSE fail to hold above last week’s highs – closing near intra-day lows and forming a bearish pin-bar candle in the process.
The FTSE futures have moved lower overnight and the cash market is set to open back at short-term support.
FTSE 100 Daily Rolling Futures – Key Levels
| UK Economic Announcements |
| (09:30) PMI Manufacturing |
| International Economic Announcements |
| (07:00) Retail Sales (GER) |
| (08:55) PMI Manufacturing (GER) |
| (09:00) PMI Manufacturing (EU) |
| (13:30) Personal Consumption Expenditures (US) |
| (13:30) Unemployment Rate (US) |
| (13:30) Personal Income (US) |
| (13:30) Personal Spending (US) |
| (14:45) PMI Manufacturing (US) |
| (15:00) ISM Manufacturing (US) |
| (15:00) Construction Spending (US) |
| (20:30) Auto 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.