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26th Apr 2021. 7.40am

Regency View:

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
Regency Risk Barometer Snapshot

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.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Interim Results
Lock N Store (LOK)
International Economic Announcements
12:30 US Durable Goods Orders (Mar)
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.