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8th Jul 2022. 7.33am

Regency View:

Morning Report – Friday 8th July

FTSE to open at 7,165 (-24 pts)

Wall Street rallied yesterday as traders balanced risks of a global slowdown with the potential for central banks to scale back their plans for interest rate rises.

While the pound actually strengthened following Boris Johnson’s resignation as Prime Minister. A new leader is expected to be chosen by September.

Overnight in Asia, stocks in Hong Kong remain subdued due to the strong US dollar. And stocks in Japan have had a volatile session after the former Japanese Prime Minister Shinzo Abe was shot while campaigning.

Looking ahead, we have June’s non-farm payroll numbers hitting our screens this afternoon and Regency account holders will receive our Non-Farm Payrolls Preview later this morning.

S&P 500+1.50%Bearish for UK stocks
Hang Seng+0.27%Bullish for UK stocks
Gold+0.13%Neutral for UK stocks
AUD/JPY-0.39%Bearish for UK stocks
US 10yr Yield+65ptsBearish for UK stocks
Regency Risk Barometer Snapshot

Despite yesterday’s political hullabaloo, the FTSE held firm and continues to consolidate within Tuesday’s large bearish range.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Great Eastern (GEEC)
Trading Announcements
Ferrexpo (FXPO)
International Economic Announcements
(13:30) Nonfarm Payrolls (US)
(13:30) Unemployment Rate (US)
(15:00) Wholesales Inventories (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.