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11th Mar 2021. 7.43am

Regency View:

Morning Report – Thursday 11th March

FTSE to open at 6,752 (+26 pts)

Biden’s $1.9tn stimulus package received final backing from the House yesterday, paving the way for the US President to sign it into law on Friday.

This news has been priced into the market for several months, but both US and Asian stocks were buoyed by the final confirmation.

Primary focus for traders today will be the ECB’s lunchtime rate decision and press conference. The market will be waiting for clarity on the rate of bond purchases (stimulus), growth and inflation outlook fro the Eurozone.

S&P 500+0.60%Bullish for UK stocks
Hang Seng+1.22%Bullish for UK stocks
Gold+0.52%Bearish for UK stocks
AUD/JPY+0.70%Bullish for UK stocks
US 10yr Yield-0.45%Neutral for UK stocks
Regency Risk Barometer Snapshot

?Risk Barometer Explained

The FTSE held above the 6,705 broken resistance zone level that we highlighted yesterday.

We are now set for a retest of Tuesday’s high and the key February swing highs at psychologically significant 6,800 marker. However, it’s important to keep in mind that we may see some outsized volaitlity following the ECB press conference at 1.30pm (UK time).

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Derwent London (DLN)
Equiniti (EQN)
Eurocell (ECEL)
James Fisher and Sons (FSJ)
Gem Diamonds Di (GEMD)
Gresham House (GHE)
Just Group (JUST)
Marshalls (MSLH)
Morrison WM (MRW)
Oakley (OCI)
Playtech (PTEC)
Rolls-Royce Holdings (RR.)
Savills (SVS)
Secure Income Reit (SIR)
Spirent (SPT)
Tcs Group S (TCS)
WPP (WPP)
Interim Results
Volution Group PLS (FAN)
Q4 Results
Arabian Food S (DOMT)
Tcs Group S (TCS)
UK Economic Announcements
(00:01) RICS Housing Market Survey
International Economic Announcements
(12:45) ECB Interest Rate (EU)
(13:30) Continuing Claims (US)
(13:30) Initial Jobless Claims (US)
Today’s Financial Diary

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Disclaimer:

This research is prepared for general information only and should not be construed as any form of investment advice.