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2nd Jul 2021. 7.15am

Regency View:

Morning Report – Friday 2nd July

FTSE to open at 7,134 (+9 pts)

The S&P posted its sixth consecutive session of record highs yesterday – indicating that expectations are looking lofty as we head into today’s non-farm payrolls number.

Economists polled by Bloomberg forecast that the US economy added 700,000 jobs in June – driven by the leisure and hospitality industries.

Overnight in Asia, Chinese-related stocks continued their recent under-performance with Hong Kong’s Hang Seng index dropping amid speculation the Chinese central bank could begin tightening monetary policy.

S&P 500+0.52%Bullish for UK stocks
Hang Seng-1.82%Bearish for UK stocks
Gold+0.11%Neutral for UK stocks
AUD/JPY+0.07%Neutral for UK stocks
US 10yr Yield-0.86%Neutral for UK stocks
Regency Risk Barometer Snapshot

We highlighted in yesterday’s morning report that the long-tailed bullish candle which formed on Wednesday could lay the foundation for a strong session and that’s exactly what we saw…

The FTSE showed clear strength and closed near intra-day highs – taking the market up into the resistance zone once again.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Interim Results
Reach Plc (RCH)
International Economic Announcements
(07:00) Retail Sales (GER)
(10:00) Producer Price Index (GER)
(13:30) Non-Farm Payrolls (US)
(13:30) Unemployment Rate (US)
(15:00) Factory Orders (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.