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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+76ptsBearish for UK stocks
Regency Risk Barometer Snapshot

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

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)
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.