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27th Jun 2022. 7.46am

Regency View:

Morning Report – Monday 27th June

FTSE to open at 7,240 (+31 pts)

Wall Street ended last week on a high as stocks rallied more than +3% as signs of slowing economic growth and a recent pullback in commodity prices tempered expectations for the Fed’s rate-hike plans.

Overnight in Asia, Chinese and Hong Kong stocks rallied, with tourism and technology groups buoyed by Shanghai’s declaration of victory over Covid-19 – Shanghai recorded no new community cases of the virus for the first time in months.

Looking ahead this week, we have a raft of consumer confidence reports, inflation and gross domestic product updates – all likely to give some indication of the effectiveness of the various monetary policy tightening measures in play.

S&P 500+3.06%Bearish for UK stocks
Hang Seng+2.06%Bullish for UK stocks
Gold-0.04%Neutral for UK stocks
AUD/JPY-0.18%Neutral for UK stocks
US 10yr Yield+41ptsBearish for UK stocks
Regency Risk Barometer Snapshot

Friday’s price action saw a strong, counter-momentum rally with prices closing near highs for the day…

Should prices hold above 7,157 in the the coming session, this could setup a more substantial rally back towards the 7,400 mid-range area.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
International Economic Announcements
(12:30) US Durable Goods Orders (May)
(12:30) Nondefense Capital Goods Orders ex Aircraft (May)
(18:30) ECB’s President Lagarde speech
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.