21st Jan 2022. 7.39am
Morning Report – Friday 21st January
FTSE to open at 7,513 (-72 pts)
Stocks on Wall Street broke to three-month lows yesterday as weaker-than-expected economic and earnings data weighed on sentiment ahead of a Fed policy meeting next week…
Streaming giant, Netflix Inc foretasted weak first-quarter subscriber growth after the New York closing bell. And Asian markets have had a lackluster session with the Hang Seng and Nikkei in negative territory.
This morning’s UK retail sales data came in below analyst expectations – showing a month-on-month drop of -3.6% in December, and a -0.9% drop year-on-year.
|S&P 500||-1.10%||Bearish for UK stocks|
|Hang Seng||-0.24%||Bearish for UK stocks|
|Gold||+0.09%||Neutral for UK stocks|
|AUD/JPY||-0.59%||Bearish for UK stocks|
|US 10yr Yield||-57pts||Bullish for UK stocks|
Yesterday’s price action saw the FTSE reject higher prices and break decisively lower – closing just below the short-term ascending trendline.
Yesterday’s range eclipsed that of the previous three sessions – forming a bearish engulfing pattern. We would now expect to see the market retest key support at 7,405.
|UK Economic Announcements|
|07:00 Retail Sales|
|International Economic Announcements|
|12:30 ECB’s President Lagarde speech|
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This research is prepared for general information only and should not be construed as any form of investment advice.