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20th Jan 2022. 7.44am

Regency View:

Morning Report – Thursday 20th January

FTSE to open at 7,625 (+35 pts)

Asian shares are up considerably overnight as China cut its key mortgage rate for the first time in nearly two years…

The Hang Seng has surged more than 3% following the Peoples Bank of China’s decision to cut its interest rate to 3.7%.

This represents a clear divergence in monetary policy relative to other major central banks such as the Fed and BoE who are starting to hike rates.

S&P 500-0.97%Bearish for UK stocks
Hang Seng+3.30%Bullish for UK stocks
Gold-0.02%Neutral for UK stocks
AUD/JPY+0.46%Bullish for UK stocks
US 10yr Yield-12ptsNeutral for UK stocks
Regency Risk Barometer Snapshot

The FTSE bounced from the first support level we highlighted in yesterday’s Morning Report – the broken swing highs at 7,533.

It goes without saying that the markets reluctance to retrace too deep is clearly a bullish sign, and the FTSE’s New Year uptrend remains firmly back on track.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Interim Results
Ilika (IKA)
Trading Announcements
AB Foods (ABF)
International Economic Announcements
10:00 (EU) Consumer Price Index – Core (MoM)(Dec)
13:30 (US) Initial Jobless Claims (Jan 14)
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.