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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
Regency Risk Barometer Snapshot

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

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)
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.