22nd Jul 2022. 7.34am
Regency View:
Morning Report – Friday 22nd July
FTSE to open at 7,268 (-3 pts)
The ECB raised interest rates for the first time in more than a decade on Thursday…
The central bank increased interest rate by twice as much as it said it would only last month, ending eight years of negative rates by raising its deposit rate by 0.5% to zero.
Market reaction was relatively muted despite the larger than expected hike – EUR/USD ended the day up 0.35% while the German Dax finished -0.27% lower.
In the US, stocks on Wall Street extended their gains in what’s been a strong week for the S&P 500, and the yield on US 10yr Treasuries dropped sharply.
Overnight in Asia, its been a quiet session with stocks, currencies and commodities treading water.
| S&P 500 | +0.99% | Bearish for UK stocks |
| Hang Seng | -0.06% | Neutral for UK stocks |
| Gold | -0.07% | Neutral for UK stocks |
| AUD/JPY | +0.07% | Neutral for UK stocks |
| US 10yr Yield | -153pts | Bullish for UK stocks |
Yesterday’s price action saw the FTSE chop sideways – printing its smallest daily range in over seven sessions.
This index is currently up 1.36% for the week, and the bulls will be hoping these weekly gains will hold.
FTSE 100 Daily Rolling Futures – Key Levels
| Final Results |
| Frp Advisory Group (FRP) |
| Interim Results |
| Beazley (BEZ) |
| Novolip Regs (NLMK) |
| UK Economic Announcements |
| (00:01) GFK Consumer Confidence |
| (07:00) Retail Sales |
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Disclaimer:
This research is prepared for general information only and should not be construed as any form of investment advice.