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22nd Aug 2022. 7.48am

Regency View:

Morning Report – Monday 22nd August

FTSE to open at 7,491 (-59 pts)

US stocks ended last week on a downbeat note as the S&P 500 retreated -1.29% to post its first weekly loss since early July.

Overnight in Asia, stocks have had a quiet session despite China cutting its mortgage lending rate by 15 basis points to 4.3% to shore up an economy.

Looking ahead this week, the Jackson Hole Economic Symposium, which starts on Thursday, will be closely watched with Fed Chair Jay Powell due to speak on Friday.

S&P 500-1.29%Bearish for UK stocks
Hang Seng-0.17%Neutral for UK stocks
Gold-0.23%Bullish for UK stocks
AUD/JPY+0.50%Bullish for UK stocks
US 10yr Yield+88ptsBearish for UK stocks
Regency Risk Barometer Snapshot

Friday’s price action saw the market attempt to break higher only to retreat during a weak US session.

This morning’s pre-open price action has seen the market retest Friday’s lows – an area that coincides with the bottom of short-term ascending channel.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Base Resources (BSE)
Smoove Plc (SMV)
Interim Results
Phoenix Group Holdings (PHNX)
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.