18th Jul 2022. 7.41am
Morning Report – Monday 18th July
FTSE to open at 7,207 (+48 pts)
Asian stocks have rallied overnight, following Friday’s bounce on Wall Street…
The Hang Seng is currently trading more than 2% higher as a pullback in the US dollar triggered a relief rally in global equities on Friday.
Looking ahead, it’s likely to be a tense week for European equities as the ECB ponders further rate hikes and energy markets await the resumption of Russian gas flowing through the Nord Stream 1 pipeline on July 21. There is also growing political instability in Italy with Prime Minister Mario Draghi threatening to resign.
|S&P 500||+1.92%||Bullish for UK stocks|
|Hang Seng||+2.45%||Bullish for UK stocks|
|Gold||+0.42%||Bearish for UK stocks|
|AUD/JPY||-0.04%||Neutral for UK stocks|
|US 10yr Yield||-43pts||Bullish for UK stocks|
Friday’s price action erased much of Thursday’s losses – forming an inside day pattern as the market remained contained within Thursday’s range.
This morning’s pre-open price action has seen the FTSE break above the the inside day pattern and should this hold during the opening rotation it would setup a bullish start to Monday’s trading.
|Audioboom Grp. (BOOM)|
|Tortilla Mexic (MEX)|
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This research is prepared for general information only and should not be construed as any form of investment advice.