6th Oct 2022. 7.43am
Regency View:
Morning Report – Thursday 6th October
FTSE to open at 7,088 (+35 pts)
US stocks tread water yesterday as Treasury yields started to rally again.
Asian markets are mixed, with Hong Kong’s Hang Seng posting small losses and Japan’s Nikkei 225 up 0.70%.
In Europe, this morning’s German industrial orders shrunk more than expected, falling 2.4% between July and August, adding evidence that the country has already entered a recession.
| S&P 500 | -0.20% | Neutral for UK stocks |
| Hang Seng | -0.39% | Bearish for UK stocks |
| Gold | +0.38% | Bearish for UK stocks |
| AUD/JPY | +0.41% | Bullish for UK stocks |
| US 10yr Yield | +126pts | Bearish for UK stocks |
Yesterday’s price action saw the FTSE daily rolling futures form a small ‘inside hammer candle’.
This is a classic consolidation pattern and signals upside continuation, which we are already starting to see from this morning’s pre-open price action.
FTSE 100 Daily Rolling Futures – Key Levels
| Final Results |
| Avation (AVAP) |
| Trading Announcements |
| Rs Group (RS1) |
| Interim Management Statement |
| City Of London (CIN) |
| UK Economic Announcements |
| (09:30) PMI Construction |
| International Economic Announcements |
| (07:00) Factory Orders (GER) |
| (10:00) Retail Sales (EU) |
| (13:30) Continuing Claims (US) |
| (13:30) Initial Jobless Claims (US) |
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Disclaimer:
This research is prepared for general information only and should not be construed as any form of investment advice.