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18th Aug 2022. 7.45am

Regency View:

Morning Report – Thursday 18th August

FTSE to open at 7,503 (+13 pts)

Stocks on Wall Street came under pressure yesterday as minutes from the Federal Reserve’s most recent meeting signaled that restrictive rates may be needed “for some time”.

There was also a disappointing set of earnings from US retail giant Target who’s profits plunged 90% after it slashed prices on a backlog of unwanted clothes and home goods.

Overnight in Asia, stocks have moved lower as the US and Taiwan to begin trade talks as tensions with China escalate.

S&P 500-0.72%Bearish for UK stocks
Hang Seng-0.98%Bearish for UK stocks
Gold+0.01%Neutral for UK stocks
AUD/JPY-0.16%Neutral for UK stocks
US 10yr Yield+94ptsBearish for UK stocks
Regency Risk Barometer Snapshot

Yesterday’s price action all but erased Tuesday’s break higher and prices are now back within the inside day range which formed on Monday.

We’ve seen this stuttering price action on multiple occasions during the July/August run higher.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Rank (RNK)
Omega Dia (ODX)
Eco Animal (EAH)
Interim Results
Antofagasta (ANTO)
Helios Towers (HTWS)
Intelligent Ult (IUG)
International Economic Announcements
(13:30) Continuing Claims (US)
(13:30) Initial Jobless Claims (US)
(13:30) Philadelphia Fed Index (US)
(15:00) Existing Home Sales (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.