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30th Jun 2022. 7.45am

Regency View:

Morning Report – Thursday 30th June

FTSE to open at 7,190 (-122 pts)

The S&P 500 printed its narrowest daily range in nearly a month as weak summer volumes stiffed volatility.

Overnight in Asia, the Hang Seng has weakened despite data showing China’s pandemic-induced economic slowdown looked to be bottoming out.

This morning’s final UK GDP numbers for Q1 came in in-line with expectations (0.8% QoQ and 8.7% YoY), while house price data from nationwide indicated that the UK housing market was cooling faster than expected.

S&P 500-0.07%Neutral for UK stocks
Hang Seng-0.97%Bearish for UK stocks
Gold-0.10%Neutral for UK stocks
AUD/JPY-0.09%Neutral for UK stocks
US 10yr Yield-86ptsBullish for UK stocks
Regency Risk Barometer Snapshot

Yesterday’s price action on the FTSE daily rolling futures was fully contained within Tuesday’s range – forming an ‘inside day’ pattern (see gold box on chart below).

This morning’s pre-open price action has seen the market break decisively below the inside day pattern and this is a bearish sign.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
UK Economic Announcements
(06:00) Gross Domestic Product (QoQ)(Q1)
International Economic Announcements
(06:00) German Retail Sales (YoY)(May)
(07:55) German Unemployment Change (Jun)
(09:00) European Unemployment Rate (May)
(12:30) US Initial Jobless Claims (Jun 24)
(12:30) US Personal Income (MoM)(May)
(13:45) US Chicago Purchasing Managers’ Index (Jun)
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.