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9th Aug 2021. 7.47am

Regency View:

Morning Report – Monday 9th August

FTSE to open at 7,101 (-22 pts)

Friday’s US non-farm payrolls comfortably beat expectations with 943,000 jobs added in July versus 870,00 expected – sparking a 6% jump in US bond yields and a record close on the S&P 500.

The bullish employment data has also created volatility in the gold market with prices dropping more than 2% on Friday and tumbling a further 4% in early Asian trading – taking prices back towards their March lows.

S&P 500+0.17%Bullish for UK stocks
Hang Seng+0.71%Bullish for UK stocks
Gold-1.01%Bullish for UK stocks
AUD/JPY-0.03%Neutral for UK stocks
US 10yr Yield+6.30%Bullish for UK stocks
Regency Risk Barometer Snapshot

FTSE futures have moved lower in early trading due to the gold price volatility – taking prices back to the confluent support level created by the short-term trendline (gold dotted line) and the 7,094 horizontal support level.

It’s worth paying attention to how the market responds to support when this morning’s opening bell rings…

A swift break of the trendline at the open could trigger a much larger sell-off, whereas a hold above support in the first hours trading could create an attractive buying opportunity.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Hargreaves Lansdown (HL.)
Interim Results
Clarkson (CKN)
H&t Group Plc (HAT)
PageGroup (PAGE)
International Economic Announcements
(07:00) Balance of Trade (GER)
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.