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18th Jul 2022. 7.41am

Regency View:

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-43ptsBullish for UK stocks
Regency Risk Barometer Snapshot

?Risk Barometer Explained

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.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
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Disclaimer:

This research is prepared for general information only and should not be construed as any form of investment advice.