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5th Aug 2022. 7.34am

Regency View:

Morning Report – Friday 5th August

FTSE to open at 7,462 (+14 pts)

The Bank of England hiked rates by 0.5 percentage points to 1.75% yesterday…

Whilst the rate hike was in-line with analyst forecasts, the Central Bank’s grim economic forecast surprised the market by indicating that it now expects a longer and deeper recession than it forecast in May.

On Wall Street, stocks had a muted session as US jobless claims hit six-month highs as labour demand cools.

And overnight in Asia, the Hang Seng and Nikkei have made modest gains ahead of this afternoon’s July Non-Farm Payrolls.

S&P 500-0.08%Neutral for UK stocks
Hang Seng+0.28%Bullish for UK stocks
Gold-0.07%Neutral for UK stocks
AUD/JPY+0.29%Bullish for UK stocks
US 10yr Yield-11ptsNeutral for UK stocks
Regency Risk Barometer Snapshot

Yesterday’s price action saw the FTSE break above Monday’s swing highs only to retreat and close near intra-day lows – forming a small bearish reversal candle.

A break below yesterday’s low would likely trigger a retest of support at 7,361.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Hargreaves Lansdown (HL.)
Interim Results
F.b.d.hldgs (FBH)
Synthomer (SYNT)
Trading Announcements
Pets At Home (PETS)
UK Economic Announcements
(07:00) Halifax House Price Index
International Economic Announcements
(07:00) Industrial Production (GER)
(13:30) Unemployment Rate (US)
(13:30) Non-Farm Payrolls (US)
(20:00) Consumer Credit (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.