5th Jul 2022. 7.46am
Morning Report – Monday 5th July
FTSE to open at 7,266 (+33 pts)
Asian stocks have had a quietly bullish session, with stocks in Hong Kong buoyed by rumors of a large Chinese infrastructure spending package…
According to Reuters, China will set up a state infrastructure investment fund worth 500 billion yuan ($74.69 billion) to spur infrastructure spending and revive a flagging economy.
Our Risk Barometer is in mildly bullish territory as we head into the European open.
|S&P 500||0.00%||Neutral for UK stocks|
|Hang Seng||+0.25%||Bullish for UK stocks|
|Gold||+0.03%||Neutral for UK stocks|
|AUD/JPY||+0.28%||Bullish for UK stocks|
|US 10yr Yield||+15pts||Neutral for UK stocks|
With US market’s closed for Independence Day yesterday, the FTSE unsurprisingly had a quiet session.
We have two short-term inflection points which define the FTSE’s current structure, swing resistance at 7,360 and swing support at 7,100.
|UK Economic Announcements|
|(08:30) S&P Global/CIPS Composite PMI (Jun)|
|(09:30) Financial Stability Report|
|International Economic Announcements|
|(14:00) US Factory Orders (MoM)(May)|
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This research is prepared for general information only and should not be construed as any form of investment advice.