24th Sep 2021. 7.28am
Regency View:
Morning Report – Friday 24th September
FTSE to open at 7,083 (+5 pts)
The Bank of England signaled yesterday that inflation is set to peak at over 4% this winter, but stressed that no immediate action was needed…
Whilst higher energy prices and supply shortages are driving inflation higher, the central bank maintained its stance that inflation would be “transitory” and would start to ease in Q2 2022.
Price action overnight in Asia has seen Chinese stocks tread water while Japanese stocks have rallied more than 2%.
| S&P 500 | +1.21% | Bullish for UK stocks |
| Hang Seng | -0.10% | Neutral for UK stocks |
| Gold | +0.75% | Bearish for UK stocks |
| AUD/JPY | +0.27% | Bullish for UK stocks |
| US 10yr Yield | +9.65% | Bullish for UK stocks |
The FTSE’s V-shaped recovery ran out of steam yesterday and the market closed well below intra-day highs forming a pin-bar pattern at short-term resistance.
Should we see a break below yesterday’s low in early trading, we could well see an increase in selling pressure as we head into the weekend.
FTSE 100 Daily Rolling Futures – Key Levels
| Interim Results |
| Judges Scientfc (JDG) |
| UK Economic Announcements |
| (00:01) GFK Consumer Confidence |
| International Economic Announcements |
| (09:00) IFO Current Assessment (GER) |
| (09:00) IFO Expectations (GER) |
| (09:00) IFO Business Climate (GER) |
| (15:00) New Homes Sales (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.