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13th Jun 2022. 7.46am

Regency View:

Morning Report – Monday 13th June

FTSE to open at 7,253 (-65 pts)

Friday’s US inflation data saw consumer prices accelerate at an annual pace of 8.6%, spooking global stock market’s…

The S&P 500 tumbled back towards its May lows as traders anticipate further monetary tightening when the Federal Market Open Committee meets this week.

Overnight in Asia, stocks have fallen sharply on the US inflation data and a new flare-up in COVID-19 cases in Beijing.

While this morning’s UK economic data came in below expectations with GDP shrinking -0.3% in April – marking the worst combination of surging prices and lack of economic expansion since the 1970s.

S&P 500-2.91%Bearish for UK stocks
Hang Seng-3.46%Bearish for UK stocks
Gold-0.33%Bullish for UK stocks
AUD/JPY-0.01%Neutral for UK stocks
US 10yr Yield+116ptsBearish for UK stocks
Regency Risk Barometer Snapshot

After failing at resistance the FTSE ended last week in bearish fashion…

This bearish momentum has followed through into pre-open trading and the FTSE is set to open near the May 19th spike low (see chart below).

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
UK Economic Announcements
(06:00) Gross Domestic Product (MoM)(Apr)
(06:00) Industrial Production (MoM)(Apr)
(06:00) Manufacturing Production (MoM)(Apr)
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.