23rd Aug 2021. 7.44am
Regency View:
Morning Report – Monday 23rd August
FTSE to open at 7,138 (+50 pts)
Wall Street’s strong’s finish on Friday has set the tone for a bullish Asian session with Hong Kong’s Hang Seng Index bouncing from it’s July lows.
Looking ahead this week; we have IHS Markit Composite Purchasing Managers’ Index (PMI) data from France, eurozone, Germany, Japan, UK, US – this data is seen as a useful tool for comparing the relative economic progress of these countries…
We also have consumer confidence data from the EU, Germany and France, and quarterly gross domestic product estimates for Germany and the US.
| S&P 500 | +0.81% | Bullish for UK stocks |
| Hang Seng | +1.39% | Bullish for UK stocks |
| Gold | +0.25% | Bearish for UK stocks |
| AUD/JPY | +0.47% | Bullish for UK stocks |
| US 10yr Yield | +1.44% | Bullish for UK stocks |
On Friday, the FTSE consolidated within Thursday’s range – forming an ‘inside day’ pattern.
In early trading this morning, we’ve seen the FTSE futures break above the inside day. This is clearly a bullish sign, and should the market maintain the breakout during the opening rotations, it should set the tone for a strong start to the week.
FTSE 100 Daily Rolling Futures – Key Levels
| Final Results |
| Batm Advanced (BVC) |
| Acron Regs (AKRN) |
| International Economic Announcements |
| (09:00) IFO Expectations (GER) |
| (09:00) IFO Business Climate (GER) |
| (09:00) IFO Current Assessment (GER) |
| (15:00) Existing Home Sales (US) |
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Disclaimer:
This research is prepared for general information only and should not be construed as any form of investment advice.