22nd Apr 2022. 7.41am
Regency View:
Morning Report – Friday 22nd April
FTSE to open at 7,550 (-78 pts)
Fed Chair Jerome Powell suggested the US central bank would move aggressively to curb inflation during yesterday’s highly anticipated speech in Washington DC…
The hawkish comments saw stocks on Wall Street erase its gains for the week while treasury yields resumed their recent rally.
Overnight in Asia, Japanese stocks have mirrored the losses on Wall Street, while Chinese large-caps in Hong Kong have fared marginally better.
| S&P 500 | -1.48% | Bearish for UK stocks |
| Hang Seng | -0.25% | Bearish for UK stocks |
| Gold | +0.10% | Neutral for UK stocks |
| AUD/JPY | -0.79% | Bearish for UK stocks |
| US 10yr Yield | +76pts | Bearish for UK stocks |
In yesterday’s Morning Report we highlighted the key resistance zone created by the pre-Ukraine war highs.
And after flirting with the resistance zone earlier in the session, the FTSE put in a sustained move lower during the later half of European session – a move which continued on the futures deep into US trading.
The FTSE is set to open at the short-term support level which formed last week.
FTSE 100 Daily Rolling Futures – Key Levels
| Q1 Results |
| Novolip Regs (NLMK) |
| Trading Announcements |
| Record (REC) |
| UK Economic Announcements |
| (06:00) Retail sales |
| (08:30) Global Services PMI |
| International Economic Announcements |
| (08:00) Global Composite PMI (EUR) |
| (13:45) Global Composite PMI (US) |
| (13:45) Global Manufacturing PMI (US) |
| (13:45) Global Services PMI (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.