8th Nov 2021. 7.46am
Morning Report – Monday 8th November
FTSE to open at 7,303 (-1 pt)
Friday’s US non-farm payrolls data came in ahead of expectations as the headwind from a surge in COVID-19 infections over the summer subsided.
While Chinese trade data, released on Sunday showed China’s exports beat forecasts in October to deliver a record trade surplus, but a miss on imports added to evidence of a slowing in domestic demand.
Looking ahead the week, markets will be firmly focused on consumer demand, with UK retail sales on Tuesday, and Chinese and US inflation data on Wednesday.
|S&P 500||+0.37%||Bullish for UK stocks|
|Hang Seng||-0.48%||Bearish for UK stocks|
|Gold||-0.07%||Neutral for UK stocks|
|AUD/JPY||+0.22%||Bullish for UK stocks|
|US 10yr Yield||-4.77%||Bullish for UK stocks|
The FTSE put in a strong move higher on Friday as prices rallied from the steepest ascending trendline (see chart below).
Short-term momentum is firmly bullish and in-line with the dominant trend structure.
|Argentex Group. (AGFX)|
|Cake Box Holdi. (CBOX)|
|Sirius R E. (SRE)|
|Phosagro S (PHOR)|
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This research is prepared for general information only and should not be construed as any form of investment advice.