28th Jun 2021. 7.47am
Morning Report – Monday 28th June
FTSE to open at 7,123 (-13 pts)
Asian stocks have started the week with caution as a spike in COVID-19 cases across the region over the weekend knocked investor sentiment, and this caution has taken Euorpean futures lower heading into the open.
Looking at the week ahead, we have a raft of key economic data including; UK GDP, Chinese PMI’s and European inflation data on Wednesday, U.S. manufacturing PMI on Thursday, and Non-farm payrolls on Friday.
|S&P 500||+0.33%||Bullish for UK stocks|
|Hang Seng||-0.24%||Bearish for UK stocks|
|Gold||+0.10%||Neutral for UK stocks|
|AUD/JPY||-0.05%||Neutral for UK stocks|
|US 10yr Yield||+2.66%||Bearish for UK stocks|
The FTSE is now back at the swing resistance created by the May swing highs at 7,167. Above that we have the fakeout highs from earlier this month at 7,219.
With the S&P holding above it’s highs, UK bulls will be looking for the FTSE to do the same, but that won’t happen without a battle.
|International Economic Announcements|
|(10:00) Economic Sentiment Indicator (EU)|
|(10:00) Industrial Confidence (EU)|
|(10:00) Business Climate Indicator (EU)|
|(10:00) Services Sentiment (EU)|
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This research is prepared for general information only and should not be construed as any form of investment advice.