8th Oct 2021. 7.45am
Morning Report – Friday 8th October
FTSE to open at 7,085 (+7 pts)
Wall Street continued its recovery rally yesterday, after the US Senate reached a deal on a stop-gap measure to extend the debt ceiling.
The proposed agreement increases the debt limit by $480bn – enough to kick the can down the road to early December.
All eyes are on today’s non-farm payrolls number and Regency members will receive a non-farm preview detailing the likely scenarios what it means for trading the S&P 500.
|S&P 500||+0.83%||Bullish for UK stocks|
|Hang Seng||+0.20%||Neutral for UK stocks|
|Gold||+0.25%||Bearish for UK stocks|
|AUD/JPY||+0.10%||Neutral for UK stocks|
|US 10yr Yield||+3.41%||Bearish for UK stocks|
The FTSE held its ground yesterday in a relatively quiet session but could not close above the short-term resistance created by this weeks cluster of highs.
We expect volatility to increase with this afternoon’s non-farm payrolls release.
|International Economic Announcements|
|(07:00) Current Account (GER)|
|(07:00) Balance of Trade (GER)|
|(13:30) Unemployment Rate (US)|
|(13:30) Non-Farm Payrolls (US)|
|(15:00) Wholesales Inventories (US)|
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This research is prepared for general information only and should not be construed as any form of investment advice.