5th Aug 2021. 7.44am
Morning Report – Thursday 5th August
FTSE to open at 7,101 (-23 pts)
The S&P 500 posted its narrowest trading range in over seven sessions yesterday – indicating that the market is getting tight ahead of Friday’s non-farm payrolls data.
Overnight in Asia, we’ve seen a mixed session with Hong Hong’s Hang Seng Index erasing most of yesterday’s gains while Japan’s Nikkei 225 Index was in positive territory as the market bounced from long-term support.
|S&P 500||-0.46%||Bearish for UK stocks|
|Hang Seng||-0.94%||Bearish for UK stocks|
|Gold||-0.07%||Neutral for UK stocks|
|AUD/JPY||+0.41%||Bullish for UK stocks|
|US 10yr Yield||+1.26%||Bullish for UK stocks|
The FTSE failed to maintain its early session strength yesterday as Wall Street weakened.
We have a confluent area of short-term support which includes the ascending trendline (gold dotted line) and the broken highs at 7,100 – we would expect the market to respond to the trendline.
|Frasers Grp (FRAS)|
|Centamin PLC (CEY)|
|Ip Group (IPO)|
|Rolls-Royce Holdings (RR.)|
|Secure Trust (STB)|
|Tritax Big Box (BBOX)|
|Tt Electronics (TTG)|
|Ote Ads (OTES)|
|UK Economic Announcements|
|(09:30) PMI Construction|
|(12:00) BoE Interest Rate Decision|
|International Economic Announcements|
|(07:00) Factory Orders (GER)|
|(13:30) Initial Jobless Claims (US)|
|(13:30) Continuing Claims (US)|
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This research is prepared for general information only and should not be construed as any form of investment advice.