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22nd Sep 2022. 7.45am

Regency View:

Morning Report – Thursday 22nd September

FTSE to open at 7,165 (-73 pts)

US stocks moved lower on Wednesday after Fed Chair Jay Powell refused to rule out a recession after implementing a third consecutive 0.75 percentage point rate hike.

“No one knows whether this process will lead to a recession or if so, how significant that recession would be” commented Powell – causing the S&P 500 to finish the day -1.71% lower.

Asian stocks have mirrored the losses on Wall Street due to the potential contagion effects of a US recession.

Focus now shifts to the Bank of England with the Monetary Policy Committee announces its August interest rate decision at lunchtime today.

S&P 500-1.71%Bearish for UK stocks
Hang Seng-1.80%Bearish for UK stocks
Gold-0.84%Bullish for UK stocks
AUD/JPY+0.26%Bullish for UK stocks
US 10yr Yield-34ptsBullish for UK stocks
Regency Risk Barometer Snapshot

Yesterday’s price action saw the FTSE daily rolling futures give up early gains to close near lows for the day.

Interestingly, yesterday’s range was contained within Tuesday’s range – forming an inside day.

We have also seen this morning’s pre-open price action break below the inside day and then bounce from the bottom of the wedge.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Hansard (HSD)
Wilmington (WIL)
Time Finance (TIME)
Interim Results
Safestyle Uk (SFE)
Cineworld (CINE)
Life Science (LABS)
Judges Scientfc (JDG)
Learning Technologies Group (LTG)
Ceres Power (CWR)
Playtech (PTEC)
Biome Tech (BIOM)
Aquis Exchange (AQX)
Pensionbee (PBEE)
Osirium Tech (OSI)
Distrib. Fin. (DFCH)
Forward Part (FWD)
Brave Bison (BBSN)
Trading Announcements
Investec (INVP)
Time Finance (TIME)
Trakm8 Hldgs (TRAK)
UK Economic Announcements
(12:00) BoE Interest Rate Decision
International Economic Announcements
(13:30) Continuing Claims (US)
(13:30) Current Account (US)
(13:30) Initial Jobless Claims (US)
(15:00) Consumer Confidence (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.