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23rd Jul 2021. 7.26am

Regency View:

Morning Report – Friday 23rd July

FTSE to open at 6,995 (+27pts)

‘Lower for longer’ was the message from ECB President Christine Lagarde during yesterday’s monetary policy statement…

The ECB also said it would maintain its bond buying program at current levels “until at least the end of March 2022” and “until it judges that the coronavirus crisis phase is over”.

European stocks had rallied earlier in the week to price-in the ECB’s supportive stance, hence there was minimal volatility following the statement.

This morning’s UK retail sales numbers for June showed at 0.5% month-on-month increase and a 9.7% year-on-year increase – just ahead of analysts expectations.

S&P 500+0.20%Neutral for UK stocks
Hang Seng-1.51%Bearish for UK stocks
Gold-0.08%Neutral for UK stocks
AUD/JPY+0.10%Neutral for UK stocks
US 10yr Yield-0.77%Neutral for UK stocks
Regency Risk Barometer Snapshot

It’s been a V-shaped reversal week for the FTSE, and if the index can end today’s session above 6,960 the weekly candle chart will form a bullish pin-bar candle.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Interim Results
Beazley (BEZ)
Trading Announcements
Brewin Dolphin (BRW)
Record (REC)
UK Economic Announcements
(00:01) GFK Consumer Confidence
(07:00) Retail Sales
Today’s Financial Diary

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Disclaimer:

This research is prepared for general information only and should not be construed as any form of investment advice.