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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
Regency Risk Barometer Snapshot

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

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)
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.