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16th Aug 2021. 7.46am

Regency View:

Morning Report – Monday 16th August

FTSE to open at 7,174 (-44pts)

We’ve seen a raft of weak economic data from China overnight – fueling fears that the global recovery is losing momentum…

Chinese industrial production increased 6.4% year-on-year in July, well below analysts expectations of 7.8%. Chinese retail sales also disappointed – increasing 8.5% in July from a year ago, much lower than the 11.5% predicted.

Higher input costs, supply bottlenecks, the rapid spread of the Covid-19 Delta variant and extreme weather conditions are all factors as to why Chinese growth metrics are cooling.

S&P 500+0.16%Bullish for UK stocks
Hang Seng-1.25%Bearish for UK stocks
Gold-0.26%Bullish for UK stocks
AUD/JPY+0.56%Bearish for UK stocks
US 10yr Yield-5.67%Bearish for UK stocks
Regency Risk Barometer Snapshot

After holding just beneath resistance and forming a small ‘doji’ candle on Friday, the FTSE futures have broken lower in early trading – confirming the market’s failure at resistance.

Prices are now trading back at the ascending trendline and price action at today’s open will be crucial in determining whether the pullback represents a buying opportunity or confirms a short-term top is in place.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Goodwin (GDWN)
International Economic Announcements
(07:00) Wholesale Price Index (GER)
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.