15th Feb 2022. 7.44am
Morning Report – Tuesday 15th February
FTSE to open at 7,505 (-27 pts)
Gold has rallied to an eight-month high in recent sessions as risk aversion continues to increase due to escalating Russia / Ukraine tensions.
This heightened risk aversion has created a bearish sweep on our Risk Barometer (below) with Asian stocks continuing to weaken and US government bond yields rallying.
|S&P 500||-0.38%||Bearish for UK stocks|
|Hang Seng||-0.97%||Bearish for UK stocks|
|Gold||+0.30%||Bearish for UK stocks|
|AUD/JPY||-0.35%||Bearish for UK stocks|
|US 10yr Yield||+54pts||Bearish for UK stocks|
We mentioned in yesterday’s Morning Report that “the next swing support level is around 80 points away at 7,498” and that’s exactly what we saw play out during yesterday’s session with a swift press down into that support level.
We have a smaller interim level of support just below yesterday’s low at 7,449 and a break below this would alter the momentum dynamics of the market.
|(07:00) Claimant Count Rate|
|(07:00) Unemployment Rate|
|International Economic Announcements|
|(07:00) Consumer Price Index (GER)|
|(10:00) GDP (Preliminary) (EU)|
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This research is prepared for general information only and should not be construed as any form of investment advice.