14th Feb 2022. 7.44am
Morning Report – Monday 14th February
FTSE to open at 7,580 (-81 pts)
An escalation in Russia / Ukraine tensions caused Brent crude oil to surge to new trend highs on Friday.
Traders have also started to speculate as to whether last week’s high US inflation reading may prompt an inter-meeting rate hike from the Fed.
Overnight in Asia, stocks have started the week in bearish fashion with the Nikkei and Hang Seng both running losses of over -1.5% for the session.
Looking ahead this week, we have inflation data from the UK and China on Wednesday along with US retail sales, also on Wednesday and UK retail sales on Friday.
|S&P 500||-0.35%||Bearish for UK stocks|
|Hang Seng||+0.41%||Bullish for UK stocks|
|Gold||+0.46%||Bearish for UK stocks|
|AUD/JPY||+0.02%||Neutral for UK stocks|
|US 10yr Yield||-3.74%||Bullish for UK stocks|
After last week’s failures at resistance, the FTSE is set to start the week in ‘retracement mode’…
Just how deep this retracement is remains to be seen, but the next swing support level is around 80 points away at 7,498.
|International Economic Announcements|
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This research is prepared for general information only and should not be construed as any form of investment advice.