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5th May 2022. 7.46am

Regency View:

Morning Report – Thursday 5th May

FTSE to open at 7,589 (+96 pts)

The Fed hiked interest rates by 0.5% for the first time since 2000 and sent a strong signal that it intended to increase rates by the same amount at the next two meetings.

Stocks on Wall Street rallied to their highest levels in over a week, as Fed chair Jay Powell appeared to rule out raising rates by 0.75 percentage points at one of its forthcoming meetings.

Overnight in Aisa, stocks have had a relatively quiet session, with the Hang Seng edging higher and the Nikkei 225 in small negative territory.

All eyes will now be on the Bank of England (BoE) ahead of this afternoon’s interest rate decision and monetary policy statement.

S&P 500+2.99%Bullish for UK stocks
Hang Seng+0.35%Bullish for UK stocks
Gold+0.96%Bearish for UK stocks
AUD/JPY-0.09%Neutral for UK stocks
US 10yr Yield-31ptsBullish for UK stocks
Regency Risk Barometer Snapshot

Yesterday’s price action saw the FTSE futures rally back after the 4.30pm closing bell – keeping the emerging wedge pattern that highlighted yesterday firmly in place.

Day traders will be looking to see if the FTSE can break above last week’s highs before the BoE rate this afternoon.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Q1 Results
Shell Plc (SHEL)
Trading Announcements
Derwent London (DLN)
Mondi (MNDI)
Next (NXT)
Interim Management Statement
Rathbone (RAT)
UK Economic Announcements
(12:00) Bank of England Monetary Policy Statement
(12:00) Bank of England Interest Rate Decision
(12:30) Bank of England Governor Bailey speech
International Economic Announcements
(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.