12th Jul 2022. 7.45am
Morning Report – Tuesday 12th July
FTSE to open at 7,151 (-46 pts)
The S&P 500 retreated lower yesterday as traders grew fearful that the Fed could stifle growth with its rapid tightening of monetary policy.
Overnight in Asia, Chinese stocks have fallen following the reintroduction of harsh Covid-19 restrictions due to the emergence of the Omicron variant in mainland China. This has raised concerns that cities across the country could soon be forced back into stringent lockdowns.
|S&P 500||-1.15%||Bearish for UK stocks|
|Hang Seng||-1.10%||Bearish for UK stocks|
|Gold||-0.20%||Neutral for UK stocks|
|AUD/JPY||-0.07%||Neutral for UK stocks|
|US 10yr Yield||-106pts||Bullish for UK stocks|
Yesterday’s price action saw the FTSE fight back from its early morning lows to close flat on the day – forming a bullish pin-bar candle in the process.
This is the second consecutive bullish pin-bar candle which indicates that the market might be gearing up for a break above the descending trendline.
|System1 Group (SYS1)|
|Adept Tech. (ADT)|
|UK Economic Announcements|
|(00:01) Retail Sales|
|International Economic Announcements|
|(10:00) ZEW Survey (EU) – Economic Sentiment|
|(10:00) ZEW Survey (GER) – Economic Sentiment|
|(10:30) Current Account (GER)|
Don’t have a Regency account yet?
Start receiving our actionable Market Alerts and Analysis with real-time email and SMS alerts throughout your trading day. Simply click below to create your account for free.Create Account
This research is prepared for general information only and should not be construed as any form of investment advice.