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7th Oct 2022. 7.43am

Regency View:

Morning Report – Friday 7th October

FTSE to open at 6,978 (-19 pts)

Stocks on Wall Street turned lower yesterday as traders grew nervous ahead of today’s non-farm payrolls.

The White House said nothing was off the table a day after Opec+ angered Washington with a cut of 2mn barrels a day to world oil supply.

Overnight in Asia, stocks have mirrored the losses on Wall Street with the Hang Seng and Nikkei 225 in negative territory.

S&P 500-1.02%Bearish for UK stocks
Hang Seng-1.32%Bearish for UK stocks
Gold-0.12%Neutral for UK stocks
AUD/JPY-0.37%Bearish for UK stocks
US 10yr Yield+92ptsBearish for UK stocks
Regency Risk Barometer Snapshot

Yesterday’s price action saw the FTSE daily rolling futures reject higher prices and close near lows for the day.

This reversal day has out a dent in the recent rally from support and leaves the market looking a bit vulnerable as we head into today’s US non-farm payrolls.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
UK Economic Announcements
(07:00) Halifax House Price Index
International Economic Announcements
(07:00) Balance of Trade (GER)
(07:00) Industrial Production (GER)
(07:00) Retail Sales (GER)
(13:30) Unemployment Rate (US)
(13:30) Non-Farm Payrolls (US)
(13:30) Wholesales Inventories (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.