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12th Apr 2021. 7.48am

Regency View:

Morning Report – Monday 12th April

FTSE to open at 6,893 (-22 pts)

Asian stocks have weakened overnight as we head into a big week for US bank earnings…

On Wednesday, we have earnings reports from JP Morgan Chase, Wells Fargo and Goldman Sachs, followed by Bank of America and Citigroup on Thursday, and Morgan Stanley and Bank of New York Mellon on Friday.

Also this week is US retail data which will indicate whether another round of stimulus payments that reached American households in March sent sales jumping again after they fell in February.

S&P 500+0.77%Bullish for UK stocks
Hang Seng-0.96%Bearish for UK stocks
Gold-0.19%Neutral for UK stocks
AUD/JPY-0.20%Neutral for UK stocks
US 10yr Yield-0.63%Neutral for UK stocks
Regency Risk Barometer Snapshot

We mentioned in Friday’s Morning Report that selling pressure was likely to increase at the New Year highs and that’s exactly what we’ve seen…

The FTSE has been in retreat since the futures tested the highs on Thursday evening. However, trend structure and momentum remain firmly bullish, and we’d expect to see another attempt to break the highs at some point this week. The ascending trendline at 6,860 looks like a good approximation of where the markets next inflection point will be.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Belvoir (BLV)
Concurrent Technologies (CNC)
Elixirr Int. (ELIX)
Instem (INS)
Oxford Technology Venture Capital Trust (OXT)
Xpediator Plc (XPD)
Trading Announcements
Sirius R E. (SRE)
International Economic Announcements
(10:00) Retail Sales (EU)
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.