Regency View:

Morning Report – Tuesday 15th June

FTSE to open at 7,180 (+34 pts)

The S&P staged a late rally to erase earlier losses and close at record highs as traders expect the US Federal Reserve to upgrade its economic outlook at this week’s meeting.

Overnight, Asian stocks have been mixed with Japan’s Nikkei 225 rallying more than 1%, but Hong Kong’s Hang Seng dropping back to two-week lows.

Our Risk Barometer paints a mixed picture, but European futures are higher following Wall Street’s late fightback.

?Risk Barometer Explained

The FTSE failed to hold above the March swing highs during yesterday’s session – closing back below resistance and forming a small bearish pin-bar in the process.

This small reversal candle isn’t hugely significant due to its size, and with today’s futures prices already moving back above resistance, the FTSE will get a second chance to hold above the March highs.

FTSE 100 Daily Rolling Futures – Key Levels