25th Jul 2022. 7.46am
Regency View:
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.
FTSE 100 Daily Rolling Futures – Key Levels
| Interim Results |
| Aj Bell (AJB) |
| Sthree (STEM) |
| 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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Disclaimer:
This research is prepared for general information only and should not be construed as any form of investment advice.