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20th Aug 2021. 7.23am

Regency View:

Morning Report – Friday 20th August

FTSE to open at 7,069 (+10 pts)

US stocks tread water yesterday as expectations of tightening monetary policy and slowing global growth painted an underwhelming picture.

Brent crude, the global oil marker, broke and closed below key swing support yesterday as the US dollar hit its highest level of the year. For a technical outlook on oil please see yesterday’s Market Alert.

Overnight in Asia, the Chinese tech sell-off gathered pace after Beijing approved a strict data privacy law.

S&P 500+0.13%Neutral for UK stocks
Hang Seng-2.02%Bearish for UK stocks
Gold+0.40%Bearish for UK stocks
AUD/JPY-0.14%Neutral for UK stocks
US 10yr Yield-1.57%Bearish for UK stocks
Regency Risk Barometer Snapshot

The FTSE managed to claw back more than half its early session losses during yesterday’s session – showing that the bulls haven’t totally given up.

And yesterday’s low at 6,992 marks a short-term level of swing support that is worth noting on our price chart. Today’s close will likely set the tone for next week and a positive session is a must if the FTSE is to avoid posting its worst weekly loss since early June.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Interim Results
Afarak Group (AFRK)
Kingspan (KGP)
UK Economic Announcements
(00:01) GFK Consumer Confidence
(07:00) Public Sector Net Borrowing
(07:00) Retail Sales
International Economic Announcements
(07:00) Producer Price Index (GER)
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.