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21st Apr 2022. 7.47am

Regency View:

Morning Report – Thursday 21st April

FTSE to open at 7,642 (+13 pts)

US bond yields retreated from their highs yesterday as the Fed’s Beige Book indicated that the US economy was starting to see some ‘demand destruction’ due to the impact of rising prices.

Asian stocks have had a mixed session with Chinese-focused stocks falling for a second day and Japanese stocks rallying.

Traders will be focused on this afternoon’s comments from the central bank ‘holy trinity’ of Fed chair Jay Powell, ECB President Christine Lagarde and Bank of England governor Andrew Bailey, who are all due to speak in Washington DC.

S&P 500-0.06%Neutral for UK stocks
Hang Seng-2.12%Bearish for UK stocks
Gold-0.29%Bullish for UK stocks
AUD/JPY-0.06%Neutral for UK stocks
US 10yr Yield-109ptsBullish for UK stocks
Regency Risk Barometer Snapshot

Yesterday’s price action saw the FTSE press higher – taking the market back towards the key resistance zone created by the pre-Ukraine war highs in early February.

When this resistance zone was tested earlier this month we saw a swift rejection, and we’ll be watching closely for signs of resistance taking hold again.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Lbg Media (LBG)
Safestyle UK (SFE)
Churchill China (CHH)
Trading Announcements
Meggitt (MGGT)
BHP Group (BHP)
Rentokil Initial (RTO)
Relx (REL)
Aj Bell (AJB)
Segro (SGRO)
Dp Poland (DPP)
UK Economic Announcements
(16:30) BoE’s Governor Bailey speech
International Economic Announcements
(13:30) Philadelphia Fed Index (US)
(13:30) Initial Jobless Claims (US)
(13:30) Continuing Claims (US)
(15:00) Fed Chair Powell speech (US)
(17:00) ECB’s President Lagarde speech (EU)
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.