20th Jun 2022. 7.48am
Morning Report – Monday 20th June
FTSE to open at 7,017 (+1 pt)
After Friday’s quiet session on Wall Street, we’ve had a quiet Asian session too.
The major moves have been on the crypto currency markets with Bitcoin falling below $20,000 over the weekend for the first time since December 2020. And there is growing concern that contagion from problems at key crypto players could unleash a shakeout if not contained.
Looking ahead this week, the key event will likely be Fed Chair, Jay Powell’s semi-annual appearance in front of the Senate banking, housing and urban affairs committee to give his monetary policy report.
|S&P 500||+0.22%||Bullish for UK stocks|
|Hang Seng||+0.22%||Bullish for UK stocks|
|Gold||+0.10%||Neutral for UK stocks|
|AUD/JPY||+0.49%||Bullish for UK stocks|
|US 10yr Yield||+30pts||Bearish for UK stocks|
Friday’s bounce melted away into the cash market’s closing bell and the FTSE will start the week at 3-month lows.
We have a small support level created by the November swing lows at 6,972, but the major support levels come around the March swing lows.
|AB Foods (ABF)|
|International Economic Announcements|
|(06:00) European Producer Price Index (MoM)(May) (EUR)|
|(13:00) ECB’s President Lagarde speech (EUR)|
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This research is prepared for general information only and should not be construed as any form of investment advice.