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11th Aug 2022. 7.44am

Regency View:

Morning Report – Thursday 11th August

FTSE to open at 7,517 (+10 pts)

Yesterday’s US inflation data came in slightly below estimates, causing stocks on Wall Street to rally in anticipation of a more accommodative stance from the Fed.

US headline consumer prices rose 8.5% in July year-on-year, just shy of economists’ expectations of 8.7% – causing the S&P 500 to break above it’s May swing highs.

Asian stocks have followed Wall Street higher with Hong Kong’s Hang Seng index gaining more than 2%, erasing Wednesday’s losses.

S&P 500+2.13%Bullish for UK stocks
Hang Seng+2.21%Bullish for UK stocks
Gold-0.31%Bullish for UK stocks
AUD/JPY+0.15%Neutral for UK stocks
US 10yr Yield+7ptsNeutral for UK stocks
Regency Risk Barometer Snapshot

Yesterday’s price action saw the FTSE finally break and close above the inside day pattern, albeit in a slow and steady fashion.

The dominant momentum and market structure remains bullish.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Interim Results
Network Intl (NETW)
Savills (SVS)
Derwent London (DLN)
Spirax-Sarco (SPX)
Empiric (ESP)
Pressure Tech (PRES)
Entain (ENT)
Empresaria Group (EMR)
Ocean Wilsons (OCN)
UK Economic Announcements
(00:01) RICS Housing Market Survey
International Economic Announcements
(13:30) Initial Jobless Claims (US)
(13:30) Producer Price Index (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.