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13th Jan 2022. 7.44am

Regency View:

Morning Report – Thursday 13th January

FTSE to open at 7,534 (-18 pts)

US inflation hit its highest level in nearly 40 years yesterday with the Consumer Price Index showing a 7% year-on-year rise in December…

The data was in-line with market expectations, and given Tuesday’s hawkish comments from Fed Chair Jerome Powell, the reaction on Wall Street was relatively muted.

Overnight, Asian stocks have moved lower following weak economic data which showed mainland bank lending fell more than expected in December.

S&P 500+0.28%Bearish for UK stocks
Hang Seng-0.22%Bullish for UK stocks
Gold+0.03%Neutral for UK stocks
AUD/JPY+0.15%Neutral for UK stocks
US 10yr Yield-2pts%Neutral for UK stocks
Regency Risk Barometer Snapshot

Yesterday’s price action saw the FTSE break and close above last week’s swing highs, but today’s futures have moved back below them.

We would expect to see the cash market find some support at the broken swing highs within the first hour of trade. However, if there is no opening bounce, we could see a retracement towards the top of the bull flag.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Trading Announcements
Hilton Foods (HFG)
Tesco (TSCO)
Halfords (HFD)
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.