13th Jul 2021. 7.45am
Morning Report – Tuesday 13th July
FTSE to open at 7,131 (+6 pts)
Asian stocks extended their relief rally to a second session after better than expected Chinese economic data and a rebound in China tech shares…
Chinese exports grew much faster than expected in June on recovering global demand, and Chinese tech giant Tencent secured regulatory approval to take China’s No.3 search engine Sogou Inc private in a $3.5 billion deal.
Today traders will be focused on this afternoon’s U.S. inflation data. A higher than expected number may add further pressure on the Fed to taper monetary stimulus faster pace than currently anticipated.
The U.S. Consumer Price Index (ex Food & Energy) is expected to increase by 0.4% month-on-month and by 4% year-on-year.
|S&P 500||+0.35%||Bullish for UK stocks|
|Hang Seng||+1.63%||Bullish for UK stocks|
|Gold||+0.29%||Bearish for UK stocks|
|AUD/JPY||+0.23%||Bullish for UK stocks|
|US 10yr Yield||+1.02%||Bullish for UK stocks|
Yesterday’s price action saw the FTSE rally from early session lows to close near highs for the day.
This is a bullish sign and indicates that we could see another retest of resistance during today’s session.
|Omega Dia (ODX)|
|Solid State (SOLI)|
|Zoo Digital (ZOO)|
|City Of London (CIN)|
|City Lon Inv (CLIG)|
|Dp Poland (DPP)|
|UK Economic Announcements|
|(00:01) Retail Sales|
|International Economic Announcements|
|(13:30) Consumer Price Index (US)|
|(13:30) Retail Sales (US)|
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This research is prepared for general information only and should not be construed as any form of investment advice.