25th Jul 2022. 7.46am
Morning Report – Monday 25th July
FTSE to open at 7,245 (-31 pts)
Asian stocks have weakened overnight with the Hang Seng and Nikkei 225 currently trading more than -0.50% lower.
However, it’s worth noting that China’s biggest property developers have rallied after a report said the government had created a dedicated fund to support the heavily indebted sector.
Looking ahead this week, on Tuesday we have quarterly earnings from the giants of US tech, Google parent Alphabet and Microsoft – Amazon and Apple report on Thursday.
While on Wednesday, all eyes will be on Washington for the Federal Reserve’s latest interest rate announcement – a 75 basis point increase is expected.
|S&P 500||-0.93%||Bearish for UK stocks|
|Hang Seng||-0.57%||Bearish for UK stocks|
|Gold||-0.17%||Neutral for UK stocks|
|AUD/JPY||+0.03%||Neutral for UK stocks|
|US 10yr Yield||-125pts||Bullish for UK stocks|
Friday’s price action saw the FTSE reduce its daily range for a third consecutive session as the market consolidates just above short-term support at 7,225 and below key resistance at 7,361.
This contraction in daily ranges indicates that the market is coiling for a directional move.
|Aj Bell (AJB)|
|Science Group (SAG)|
|International Economic Announcements|
|(09:00) IFO Current Assessment (GER)|
|(09:00) IFO Expectations (GER)|
|(09:00) IFO Business Climate (GER)|
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This research is prepared for general information only and should not be construed as any form of investment advice.