27th Aug 2021. 7.20am
Regency View:
Morning Report – Friday 27th August
FTSE to open at 7,131 (+6 pts)
US stocks weakened yesterday as troubles in Afghanistan escalated with two bomb attacks in Kabul, killing at least 12 members of the US military and killing and wounding an unknown number of civilians.
Fed chief Jerome Powell speaks at the Jackson Hole economic symposium this afternoon and any talk of tapering at a quicker pace than expected will likely see US stocks retreat further from their recent highs.
Overnight in Asia, stocks have tread water with the Hang Seng consolidating inside yesterday’s range.
| S&P 500 | -0.58% | Bearish for UK stocks |
| Hang Seng | -0.05% | Neutral for UK stocks |
| Gold | +0.65% | Bearish for UK stocks |
| AUD/JPY | +0.14% | Neutral for UK stocks |
| US 10yr Yield | +1.19% | Bullish for UK stocks |
Despite the weakness in the US, the FTSE managed to fightback from intra-day lows yesterday to form another long-tailed candle.
We’re now looking for the market to break and close above Monday’s highs – ending the week in bullish fashion.
FTSE 100 Daily Rolling Futures – Key Levels
| Interim Results |
| BBGI (BBGI) |
| Pjsc Rosseti S (RSTI) |
| Yew Grove Reit. (YEW) |
| International Economic Announcements |
| (13:30) Personal Spending (US) |
| (13:30) Personal Consumption Expenditures (US) |
| (13:30) Personal Income (US) |
| (15:00) U. of Michigan Confidence (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.