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16th Jun 2022. 7.46am

Regency View:

Morning Report – Thursday 16th June

FTSE to open at 7,240 (-33 pts)

The Fed made its largest rate hike since 1994 yesterday, upping its benchmark policy rate by 0.75 percentage points to combat accelerating inflation.

Whilst tightening monetary policy is typically bearish for stocks, Wall Street rallied yesterday as Fed Chair Jay Powell said large rate rises would not be common in his press conference.

All eyes will now be on the Bank of England with Governor Andrew Bailey set to announce a fifth consecutive rate hike.

S&P 500+1.46%Bullish for UK stocks
Hang Seng-1.29%Bearish for UK stocks
Gold-0.09%Neutral for UK stocks
AUD/JPY+0.35%Bullish for UK stocks
US 10yr Yield-166ptsBullish for UK stocks
Regency Risk Barometer Snapshot

The FTSE put in a strong thrust higher yesterday following Tuesday’s bounce from support.

For a bullish scenario to develop, the FTSE will need to at least hold near the top quartile of yesterday’s range.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Biffa (BIFF)
Halma (HLMA)
UK Economic Announcements
(11:00) Bank of England Minutes
(11:00) BoE Asset Purchase Facility
(11:00) BoE Interest Rate Decision
(11:00) Monetary Policy Summary
International Economic Announcements
(12:30) US Initial Jobless Claims (Jun 10) (USD)
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.