20th May 2021. 7.47am
Regency View:
Morning Report – Thursday 20th May
FTSE to open at 6,998 (48 pts)
Wall Street fought back from early weakness yesterday, as minutes of the Federal Open Market Committee’s (FOMC) meeting in late April were released…
Markets had become fearful that the minutes would reveal a more hawkish stance to tapering the Fed’s bond-buying program, but this wasn’t the case. The minutes confirmed the FOMC’s dovish stance and willingness to keep monetary policy as accommodative as possible while the US economy recovers.
| S&P 500 | -0.29% | Neutral for UK stocks |
| Hang Seng | -0.49% | Bearish for UK stocks |
| Gold | +0.26% | Bearish for UK stocks |
| AUD/JPY | +0.28% | Bullish for UK stocks |
| US 10yr Yield | +2.16% | Bearish for UK stocks |
FTSE futures rallied with US markets after the European close to set-up a bullish start to this morning’s session.
Prices formed another, albeit smaller hammer candle yesterday, and looking at recent price action we can see that a ‘wedge’ consolidation pattern is taking shape.
We’ll be watching closely to see how this wedge develops throughout the remainder of the week.
FTSE 100 Daily Rolling Futures – Key Levels
| Final Results |
| National Grid (NG.) |
| Qinetiq (QQ.) |
| Interim Results |
| easyJet (EZJ) |
| Euromoney (ERM) |
| Nexus Infrastr. (NEXS) |
| Q1 Results |
| Helios Towers (HTWS) |
| Trading Announcements |
| Kistos Plc (KIST) |
| Watches Switz (WOSG) |
| International Economic Announcements |
| (07:00) Producer Price Index (GER) |
| (09:00) Current Account (EU) |
| (13:30) Initial Jobless Claims (US) |
| (13:30) Continuing Claims (US) |
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Disclaimer:
This research is prepared for general information only and should not be construed as any form of investment advice.