15th Jun 2021. 7.47am
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.
|S&P 500||+0.18%||Bullish for UK stocks|
|Hang Seng||-0.71%||Bearish for UK stocks|
|Gold||+0.03%||Neutral for UK stocks|
|AUD/JPY||+0.07%||Neutral for UK stocks|
|US 10yr Yield||+3.21%||Bearish for UK stocks|
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.
|Anemoi Interna. (AMOI)|
|CML Microcircuits (CML)|
|Tatton Asset M. (TAM)|
|Thalassa (Di) (THAL)|
|Tp Grp (TPG)|
|Vianet Grp (VNET)|
|On The Beach (OTB)|
|Oxford Biodyn (OBD)|
|Pressure Tech (PRES)|
|Ramsdens Hldgs (RFX)|
|Renalytix Ai (RENX)|
|Ashtead Group (AHT)|
|UK Economic Announcements|
|(07:00) Unemployment Rate|
|(07:00) Claimant Count Rate|
|International Economic Announcements|
|(07:00) Consumer Price Index (GER)|
|(10:00) Balance of Trade (EU)|
|(13:30) Retail Sales (US)|
|(13:30) Producer Price Index (US)|
|(14:15) Capacity Utilisation (US)|
|(14:15) Industrial Production (US)|
|(15:00) Business Inventories (US)|
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This research is prepared for general information only and should not be construed as any form of investment advice.