10th Jan 2022. 7.44am
Morning Report – Monday 10th January
FTSE to open at 7,508 (+23 pts)
Asian stocks headed cautiously higher overnight as the yield on US government debt continues to climb higher.
Looking ahead this week, inflation will be front and center again with monthly updates from China, the US, India, Japan and France.
This week also marks the start of the banking reporting season with JPMorgan Chase, Citigroup and Wells Fargo will kicking off proceedings on Friday.
|S&P 500||-0.41%||Bearish for UK stocks|
|Hang Seng||+1.15%||Bullish for UK stocks|
|Gold||-0.11%||Neutral for UK stocks|
|AUD/JPY||+0.43%||Bullish for UK stocks|
|US 10yr Yield||+41pts||Bearish for UK stocks|
The FTSE had a relatively strong finish to last week and avoided forming a bearish pin-bar candle on the weekly candle chart.
Indeed, probabilities currently favour further upside with trend and momentum aligned in favour of the bulls. However, we may see the market find some resistance at last week’s highs.
|International Economic Announcements|
|10:00 Unemployment Rate (EU)|
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This research is prepared for general information only and should not be construed as any form of investment advice.