4th Jul 2022. 7.45am
Morning Report – Monday 4th July
FTSE to open at 7,225 (+56 pts)
US markets are closed today for Independence Day, as such we have seen a quiet Asian session with the Hang Seng and Nikkei 225 treading water near last week’s lows.
Looking ahead this week, the key economic events will be Wednesday’s minutes of the Federal Reserve’s last rate-setting meeting and the US labour market report on Friday.
|S&P 500||+1.06%||Bullish for UK stocks|
|Hang Seng||-0.12%||Neutral for UK stocks|
|Gold||-0.10%||Neutral for UK stocks|
|AUD/JPY||+0.40%||Bullish for UK stocks|
|US 10yr Yield||-132pts||Bullish for UK stocks|
Friday’s price action saw the market retest and rally from Thursday’s lows – forming a small bullish hammer candle in the process.
With US market’s closed for Independence Day, we expect a quiet session for the FTSE as the market consolidates above 7,175 support.
|International Economic Announcements|
|(09:00) Producer Price Index (YoY)(May)|
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This research is prepared for general information only and should not be construed as any form of investment advice.