Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.

3rd May 2022. 7.42am

Regency View:

Morning Report – Tuesday 3rd May

FTSE to open at 7,484 (-61 pts)

Yesterday’s price action on the S&P 500 saw the market bounce from the Feb 24th swing lows – forming a bullish hammer candle in the process.

While overnight in Asia, we’ve seen a quiet session with stocks in Japan and Hong Kong treading water ahead of the European opening bell.

Looking ahead this week, we have key interest rate decisions on both sides of the pond…

The Federal Open Market Committee kick things off on Tuesday, with the consensus of analysts forecasting a 50 basis point rate rise to 0.75% or 1.0%.

It’s the Bank of England’s turn on Thursday with analysts forecasting another 25 basis point hike.

S&P 500+0.57%Bullish for UK stocks
Hang Seng+0.33%Bullish for UK stocks
Gold-0.12%Neutral for UK stocks
AUD/JPY+1.03%Bullish for UK stocks
US 10yr Yield+64ptsBearish for UK stocks
Regency Risk Barometer Snapshot

Friday’s price action indicated that the broken support level at 7,536, that was retested last week, has now become resistance.

The futures chart (below) includes yesterday’s price action, which we cannot read much into as the cash market was closed.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Q1 Results
BP (BP.)
International Economic Announcements
(13:00) ECB’s President Lagarde speech (EUR)
Today’s Financial Diary

Don’t have a Regency account yet?

Start receiving our actionable Market Alerts and Analysis with real-time email and SMS alerts throughout your trading day. Simply click below to create your account for free.

Create Account

Any Questions? Please feel free to call 0203 973 8007 or email us at info@regency.capital

Disclaimer:

This research is prepared for general information only and should not be construed as any form of investment advice.