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11th Nov 2021. 7.44am

Regency View:

Morning Report – Thursday 11th November

FTSE to open at 7,333 (-7 pts)

Yesterday’s US inflation data came in well ahead of expectations, causing stocks on Wall Street to fall and US bond yields to rally…

US consumer prices climbed 6.2% in October from the same month in 2020, well above expectations of 5.8% – putting pressure on the Federal Reserve to act more decisively.

Overnight in Asia, stocks seemed to have shrugged off the sharp rally in the US dollar and both the Hang Seng and Nikkei 225 are in positive territory as we head into the European open.

S&P 500-0.82%Bearish for UK stocks
Hang Seng+1.12%Bullish for UK stocks
Gold+0.24%Bearish for UK stocks
AUD/JPY-0.04%Neutral for UK stocks
US 10yr Yield+8.01%Bearish for UK stocks
Regency Risk Barometer Snapshot

Yesterday’s price action on the FTSE underlined the importance of the ‘inside day’ pattern that we identified on Monday…

After starting the session by bouncing from the bottom of Friday’s lows (gold box), the FTSE ended the session by testing Friday’s highs.

The market looks set to open just beneath the inside day highs, and a break above the box during the opening rotation, could trigger a strong rally higher.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
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(00:01) RICS Housing Market Survey
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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.