26th Apr 2021. 7.40am
Morning Report – Monday 26th April
FTSE to open at 6,926 (-13 pts)
It’s been a quiet Asian session as traders look towards a busy week of key earnings and economic announcements…
We have the four US tech giants; Alphabet, Amazon, Facebook and Microsoft all reporting earnings this week. We also have all the major UK-listed banks reporting this week.
Alongside the raft corporate earnings, traders will be focused on Wednesday’s rate decision and policy statement from the US Federal Reserve. With long-term inflationary pressures increasing, the market will be looking for any hints that the Fed could start tapering its $120bn monthly asset purchase scheme.
|S&P 500||+1.09%||Bullish for UK stocks|
|Hang Seng||-0.24%||Neutral for UK stocks|
|Gold||-0.14%||Neutral for UK stocks|
|AUD/JPY||+0.25%||Bullish for UK stocks|
|US 10yr Yield||+1.04%||Neutral for UK stocks|
The FTSE has continued to coil and consolidate just beneath the New Year highs.
Whilst the dominant trend structure remains bullish, the strength of last Tuesday’s sell-off means that dominant short-term momentum is bearish.
These conflicting technical factors leave us in coin flip territory, which is something traders should keep in mind when planning their trade setups today.
|Lock N Store (LOK)|
|International Economic Announcements|
|12:30 US Durable Goods Orders (Mar)|
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This research is prepared for general information only and should not be construed as any form of investment advice.