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14th Apr 2022. 7.44am

Regency View:

Morning Report – Thursday 14th April

FTSE to open at 7,588 (+7 pts)

US stocks rallied yesterday as Treasury yields cooled for a second day and the dollar retreated from highs.

Asian stocks have tracked the gains on Wall Street, with Chinese stocks also receiving a boost from the likely cut in reserve requirement ratios (RRR) from the Peoples Bank of China (PBoC).

Looking ahead, all eyes will be on the ECB at lunchtime with traders waiting to see whether the Central Bank will be as hawkish as the Fed and BoE.

S&P 500+1.12%Bearish for UK stocks
Hang Seng+0.88%Bullish for UK stocks
Gold-0.23%Bullish for UK stocks
AUD/JPY+0.06%Neutral for UK stocks
US 10yr Yield-25ptsBullish for UK stocks
Regency Risk Barometer Snapshot

Yesterday’s price action saw the FTSE print its narrowest daily range in over seven sessions – indicating that volatility is starting to contract and that we could be building for an explosive directional move.

The cash market is set to open near yesterday’s highs, and a swift break above those highs during the opening rotation should see the FTSE make another attempt at the 7,670 resistance area.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Trading Announcements
Ashmore (ASHM)
Hays (HAS)
Dunelm (DNLM)
International Economic Announcements
(11:45) ECB Interest Rate Decision (EU)
(11:45) ECB Monetary Policy Statement (EU)
(12:30) ECB Press Conference (EU)
(12:30) Retail Sales (US)
(14:00) Michigan Consumer Sentiment 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.