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29th Mar 2021. 7.45am

Regency View:

Morning Report – Monday 29th March

FTSE to open at 6,742 (+2 pts)

As the first quarter closes, we expect trading volumes to peak on Wednesday with President Joe Biden is set to outline further spending plans designed to ramp-up the US economic recovery…

The bill, worth an estimated $3 trillion will be targeted on long-term infrastructure, education and childcare spending – partially funded by tax increases. How the market reacts might just set the tone for the negations with Capitol Hill which are likely to dominate the second quarter.

Asian stocks have had a mild start to the week with Hong Kong’s Hang Seng index just slipping into negative territory – setting up a relatively neutral start to European trading.

S&P 500+1.66%Bullish for UK stocks
Hang Seng-0.28%Neutral for UK stocks
Gold-0.34%Neutral for UK stocks
AUD/JPY-0.37%Bearish for UK stocks
US 10yr Yield-1.57%Bullish for UK stocks
Regency Risk Barometer Snapshot

After Thursday’s bullish hammer candle, the market showed strength on Friday with an acceleration of buying on the futures during the later half of US trading – highlighting the market’s willingness to retest the key 6,800 resistance area.

The futures have pulled back towards Friday’s cash market close, potentially creating a second bite at the cherry for traders who wish to ride a move towards resistance.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Dev Clever Hol. (DEV)
Digitalbox (DBOX)
Elecosoft (ELCO)
Globaltrans S (GLTR)
Impact Health (IHR)
Quixant (QXT)
Ten Ent Grp (TEG)
UK Economic Announcements
(08:00) Nationwide House Price Index
International Economic Announcements
(11:00) Consumer Confidence (EU)
(11:00) Business Climate Indicator (EU)
(11:00) Industrial Confidence (EU)
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.