19th Jul 2021. 7.44am
Regency View:
Morning Report – Monday 19th July
FTSE to open at 6,940 (-68 pts)
Asian shares have had a weak session with concerns over inflation and the continued impact the Delta variant is having on the global recovery.
Hong Kong’s Hang Seng and Japan’s Nikkei 225 are down more than 1% on the day with AUD/JPY (a key barometer for risk appetite) breaking to a four-month low.
As we look ahead this week, economic data is likely to take a back seat to earnings…
The only key piece of economic data we have on the calendar is Thursday’s ECB rate decision and policy statement, whereas we have a raft of key corporate earnings with the likes of Netflix, CocaCola, Unilever and American Express all reporting Q2 numbers this week.
| S&P 500 | -0.75% | Bearish for UK stocks |
| Hang Seng | -1.97% | Bearish for UK stocks |
| Gold | -0.35% | Bullish for UK stocks |
| AUD/JPY | -0.24% | Bullish for UK stocks |
| US 10yr Yield | -0.53% | Neutral for UK stocks |
The FTSE broke and closed below the 7,000 interim support area and now the futures are testing the major June swing lows at 6,945.
A break below the June swing lows would be significant as it would end the FTSE’s series of higher swing lows which has been in place since February.
FTSE 100 Daily Rolling Futures – Key Levels
| Interim Results |
| Sthree (STEM) |
| Trading Announcements |
| Parsley Box (MEAL) |
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Disclaimer:
This research is prepared for general information only and should not be construed as any form of investment advice.