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10th May 2022. 7.46am

Regency View:

Morning Report – Tuesday 10th May

FTSE to open at 7,279 (+62 pts)

Yesterday marked the steepest one-day fall on Wall Street since 2020 with the S&P 500 breaking below key support.

Concerns over the impact of ‘stagflation’ – slowing economic growth combined with rampant inflation, were behind yesterday’s rout in US and European equities.

The bearish sentiment has continued into the Asia session, with Hong Kong’s Hang Seng falling -2% as the re-market opens following yesterday’s public holiday.

S&P 500-3.20%Bearish for UK stocks
Hang Seng-2.00%Bearish for UK stocks
Gold+0.49%Bearish for UK stocks
AUD/JPY+0.41%Bullish for UK stocks
US 10yr Yield-112ptsBullish for UK stocks
Regency Risk Barometer Snapshot

Yesterday’s bearish price action on the FTSE saw the market slice through swing support.

The sell-off has left the FTSE in something of a no mans land with minimal support prior to the March lows.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
International Economic Announcements
(09:00) ZEW Survey – Economic Sentiment (May)
(15:30) President Biden speech (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.