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5th Jul 2021. 7.43am

Regency View:

Morning Report – Monday 5th July

FTSE to open at 7,112 (-11 pts)

The S&P 500 surged higher on Friday following a market-beating set of non-farm payrolls which came in at 850K jobs created in June versus 700K expected.

However, U.S. stock markets are closed today in observance of Independence Day and this is likely to mute price movement in Europe.

Looking at the week ahead, we have the European Commission releases its updated economic growth forecast on Wednesday. Also on Wednesday, the U.S. Federal Reserve release the minuets from their last meeting, oh… and there’s also a football match being played at Wembley Stadium!

On Friday, investors will be waiting to see if China producer prices continue their rapid rise following the release of Chinese inflation data.

S&P 500+0.75%Bullish for UK stocks
Hang Seng-0.57%Bearish for UK stocks
Gold+0.01%Neutral for UK stocks
AUD/JPY-0.01%Neutral for UK stocks
US 10yr Yield-2.21%Bullish for UK stocks
Regency Risk Barometer Snapshot

The FTSE couldn’t muster a breakout on Friday, despite the strong U.S. jobs report – price action formed a small ‘spinning top’ style candle just underneath resistance.

With the U.S. market closed, it’s unlikely that we’ll see a breakout today with Friday’s small range providing intra-day support and resistance.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Hipgnosis Song. (SONG)
The Panoply Ho. (TPX)
Interim Results
Porvair (PRV)
UK Economic Announcements
05-Jul-2021 (09:30) PMI Services
International Economic Announcements
(08:55) PMI Composite (GER)
(08:55) PMI Services (GER)
(15:00) ISM Prices Paid (US)
(15:00) ISM Services (US)
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.