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23rd Sep 2021. 7.40am

Regency View:

Morning Report – Thursday 23rd September

FTSE to open at 7,126 (+43 pts)

So much for a taper tantrum! Wall Street rallied yesterday despite Fed chair Jay Powell signalling the US central bank could start withdrawing its stimulus programme as early as November.

New economic projections showed a majority of Fed officials expect to raise rates at least three times in 2023, and a growing number expect an earlier rate rise in 2022.

Stock markets shrugged off the hawkishness and the S&P managed to close back above key support, and Asian stocks have followed suit.

Our Risk Barometer has clean sweep of bullish indicators – signalling that sentiment is firmly ‘risk on’ as we head into the start of European trading.

S&P 500+0.95%Bullish for UK stocks
Hang Seng+0.75%Bullish for UK stocks
Gold-0.25%Bullish for UK stocks
AUD/JPY+0.19%Bullish for UK stocks
US 10yr Yield-1.90%Bullish for UK stocks
Regency Risk Barometer Snapshot

The FTSE blast through multiple levels of resistance yesterday, creating a V-shaped recovery on the price chart.

This morning’s pre-open price action on the futures has seen the market continue higher and break above interim resistance at 7,092.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Dfs Furn (DFS)
Fonix Mob. (FNX)
Hansard (HSD)
Supermarket Inc (SUPR)
Interim Results
Arecor Therape (AREC)
Distrib. Fin. (DFCH)
Ebiquity (EBQ)
Eve Sleep (EVE)
Everyman Media (EMAN)
Gemfields Grou. (GEM)
Playtech (PTEC)
Safestyle Uk (SFE)
City Pub Group. (CPC)
Xeros Tech (XSG)
Xlmedia (XLM)
Trading Announcements
Investec (INVP)
UK Economic Announcements
(12:00) BoE Interest Rate Decision
International Economic Announcements
(13:30) Continuing Claims (US)
(13:30) Initial Jobless 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.