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9th Jul 2021. 7.20am

Regency View:

Morning Report – Friday 9th July

FTSE to open at 7,059 (+29 pts)

Stocks on both sides of the Atlantic took heavy losses yesterday as traders focused on rising concerns about prospects for the global economy.

This week has seen a sharp move higher in bond prices (inversely related to bond yields which have fallen) – this indicates that the market is pricing in slower growth and lower inflation than previously expected.

Overnight we’ve seen Asian stocks bounce from lows and the Hang Seng looks set to end a run of seven consecutive losing sessions.

S&P 500-0.86%Bearish for UK stocks
Hang Seng+1.01%Bullish for UK stocks
Gold-0.09%Neutral for UK stocks
AUD/JPY+0.21%Bullish for UK stocks
US 10yr Yield-2.01%Bearish for UK stocks
Regency Risk Barometer Snapshot

After a week of toying with resistance, the FTSE broke decisively lower yesterday.

While prices found some support at 7,000, short-term momentum is firmly in favour of the bears and we would expect today’s bounce on the futures to be sold into.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Trading Announcements
MJGleeson (GLE)
Annual Report
Mountview Est. (MTVW)
UK Economic Announcements
(07:00) Industrial Production
(07:00) Index of Services
(07:00) Manufacturing Production
(07:00) Balance of Trade
(07:00) Gross Domestic Product
International Economic Announcements
(15:00) 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.