8th Aug 2022. 7.44am
Morning Report – Monday 8th August
FTSE to open at 7,463 (+23 pts)
US stocks ended last week consolidating near recent highs as non-farm payrolls and average hourly earnings came in ahead of expectations.
Overnight in Asia, Chinese stocks have moved lower despite export growth data unexpectedly picking up speed in July.
Looking ahead this week, we have inflation data from the US and China, and the UK’s first reading of Q2 GDP.
|S&P 500||-0.16%||Neutral for UK stocks|
|Hang Seng||-0.77%||Bearish for UK stocks|
|Gold||-0.06%||Neutral for UK stocks|
|AUD/JPY||+0.68%||Bullish for UK stocks|
|US 10yr Yield||+143pts||Bearish for UK stocks|
Friday’s price action was fully contained within Thursday’s range – forming a small inside day pattern.
The inside day adds further significance to Thursday’s range and a break above or below it could trigger a multi-day directional move.
|Diversified En (DEC)|
|Taseko Mines (L.TKO)|
|International Economic Announcements|
|(07:00) Balance of Trade (GER)|
|(07:00) Current Account (GER)|
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This research is prepared for general information only and should not be construed as any form of investment advice.