14th Jun 2021. 7.43am
Morning Report – Monday 14th June
FTSE to open at 7,146 (+12 pts)
As Wall Street flirts with record highs again, all eyes will be on the Federal Reserve’s economic projections and monetary policy statement this Wednesday.
Asian stocks have been lifted by the last Friday’s bullish sentiment, but they continue to under-perform relative to the US and Europe, with the Hang Seng more than 7% below its February highs.
Our Risk Barometer has a distinctly bullish feel to it as we head into the European open.
|S&P 500||+0.19%||Bullish for UK stocks|
|Hang Seng||+0.36%||Bullish for UK stocks|
|Gold||-0.88%||Bullish for UK stocks|
|AUD/JPY||+0.12%||Neutral for UK stocks|
|US 10yr Yield||+1.72%||Bearish for UK stocks|
The FTSE’s intense price compression that we highlighted last week came to an end on Friday with a strong surge higher – taking the maket up into its key May highs.
This is a key area of resistance, and with the futures already rejecting a first attempt to break through this morning, we’ll be watching price action at this morning’s open very closely.
|Augmentum Fint. (AUGM)|
|Draper Esp (GROW)|
|Crest Nicholson (CRST)|
|International Economic Announcements|
|(10:00) Industrial Production (EU)|
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This research is prepared for general information only and should not be construed as any form of investment advice.