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21st Jan 2022. 7.39am

Regency View:

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-57ptsBullish for UK stocks
Regency Risk Barometer Snapshot

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.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
UK Economic Announcements
07:00 Retail Sales
International Economic Announcements
12:30 ECB’s President Lagarde speech
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.