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4th Jun 2021. 7.27am

Regency View:

Morning Report – Friday 4th June

FTSE to open at 7,059 (-5 pts)

Big US tech stocks lead Wall Street lower yesterday, as economic data indicated that inflationary pressures were building…

The UN Food and Agriculture Organization’s monthly food price index saw global food prices surge by its highest amount in over a decade, and US initial jobless claims fell to a new low last week.

This data suggests that the Federal Reserve may be forced into scaling back monetary stimulus quicker than expected. It also increases the market’s tension heading into this afternoon’s non-farm payrolls number.

S&P 500-0.36%Bearish for UK stocks
Hang Seng-0.44%Bearish for UK stocks
Gold-0.04%Neutral for UK stocks
AUD/JPY+0.02%Neutral for UK stocks
US 10yr Yield+2.01%Bearish for UK stocks
Regency Risk Barometer Snapshot

The FTSE retreated from the 7,107 swing resistance area faster than many would’ve expected given its strength earlier in the week.

However, the market did manage to fight back during the afternoon, and the the futures closed well above its morning lows – forming a bullish long-tailed candle as we head into today’s US non-farm payrolls.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Annual Report
Block Energy P. (BLOE)
UK Economic Announcements
(09:30) PMI Construction
International Economic Announcements
(10:00) Retail Sales (EU)
(13:30) Unemployment Rate (US)
(13:30) Non-Farm Payrolls (US)
(14:00) Factory Orders (US)
(15:00) ISM Services (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.