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5th Mar 2021. 7.45am

Regency View:

Morning Report – Friday 5th March

FTSE to open at 6,596 (-54 pts)

It’s been a second consecutive week of flip flopping between vaccine-related optimism and inflation-linked caution.

European equities have started to outperform their Asian and US peers – something which hasn’t happed too frequently in the last year. We’ll be watching closely next week to see if this is a one-off or the start of an emerging theme.

Today, all eyes are on the US non-farm payrolls print…

The market is currently pricing in an increase of 182,000 jobs in February. Given the backdrop of inflationary fears, the reaction from the stock market is unlikely to be conventional i.e. a beat of 200,000+ may actually increase fears that the Fed’s dovish stance will see inflation rocket, prompting another nervous reaction from the S&P.

S&P 500-1.34%Bearish for UK stocks
Hang Seng-0.32%Neutral for UK stocks
Gold+0.11%Neutral for UK stocks
AUD/JPY-0.01%Neutral for UK stocks
US 10yr Yield-0.78%Neutral for UK stocks
Regency Risk Barometer Snapshot

The FTSE continues to oscillate around the 6,570 mid-range marker – indicating the heightened levels of indecision we’re seeing in stocks.

We have clearly defined resistance at 6,705 and support at 6,462, these levels should form the basis of any index trading plans.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Aib Group (AIBG)
ConvaTec (CTEC)
Global Ports S (GLPR)
Pearson (PSON)
Annual Reports
Aib Group (AIBG)
Keras Res (KRS)
UK Economic Announcements
(08:30) Halifax House Price Index
International Economic Announcements
(07:00) Factory Orders (GER)
(13:30) Non-Farm Payrolls (US)
(13:30) Unemployment Rate (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.