7th Jul 2022. 7.48am
Morning Report – Thursday 7th July
FTSE to open at 7,170 (+63 pts)
Stocks on Wall Street edged higher yesterday in thin summer volumes ahead of tomorrow’s non-farm payrolls.
Overnight in Asia, Chinese stocks have remained subdued as the US dollar remains at multi-year highs. While Japanese stocks have bounced following dovish comments from Bank of Japan Governor Kuroda.
The Downing Street resignation list has increased further this morning with Northern Ireland Secretary, Brandon Lewis and Secretary of State to Wales, Simon Hart joining over 40 other members of the Tory party who have quit during the last 48 hours.
|S&P 500||+0.36%||Bullish for UK stocks|
|Hang Seng||-0.14%||Neutral for UK stocks|
|Gold||+0.33%||Bearish for UK stocks|
|AUD/JPY||+0.59%||Bullish for UK stocks|
|US 10yr Yield||+117pts||Bearish for UK stocks|
Yesterday’s price action on the FTSE was fully contained within Tuesday’s range – forming an inside day pattern.
This pattern signals that volatility is contracting and that we are likely to see a directional move in the coming sessions.
|Currys Plc (CURY)|
|Watches Switz (WOSG)|
|Jet2 Plc (JET2)|
|Vistry Grp (VTY)|
|Rs Group (RS1)|
|Time Finance (TIME)|
|UK Economic Announcements|
|(07:00) Halifax House Price Index|
|International Economic Announcements|
|(13:30) Initial Jobless Claims (US)|
|(13:30) Continuing Claims (US)|
|(07:00) Industrial Production (GER)|
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This research is prepared for general information only and should not be construed as any form of investment advice.