8th Jul 2022. 7.33am
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||+65pts||Bearish for UK stocks|
Despite yesterday’s political hullabaloo, the FTSE held firm and continues to consolidate within Tuesday’s large bearish range.
|Great Eastern (GEEC)|
|International Economic Announcements|
|(13:30) Nonfarm Payrolls (US)|
|(13:30) Unemployment Rate (US)|
|(15:00) Wholesales Inventories (US)|
|(20:00) Consumer Credit (US)|
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This research is prepared for general information only and should not be construed as any form of investment advice.