16th Aug 2022. 7.48am
Morning Report – Tuesday 16th August
FTSE to open at 7,527 (+18 pts)
Stocks on Wall Street continued their recent rally yesterday as traders start to price-in a slower pace of tightening from the Federal Reserve.
While Brent crude, the international benchmark for oil dropped as low as $92.78 a barrel yesterday amid fears of a global recession.
Overnight in Asia, the Hang Seng has weakened more than -1.70% despite shares in large Chinese property developers rallying amid reports that regulators could take further steps to support the crisis-stricken sector.
In Europe, this morning’s UK unemployment data edged up to 3.8% as the labour market shows signs of cooling.
|S&P 500||+0.40%||Bullish for UK stocks|
|Hang Seng||-1.78%||Bearish for UK stocks|
|Gold||+0.06%||Neutral for UK stocks|
|AUD/JPY||+0.01%||Neutral for UK stocks|
|US 10yr Yield||-55pts||Bullish for UK stocks|
Yesterday’s price action saw the FTSE fight back during afternoon trading – forming a bullish pin-bar candle inside of Friday’s range.
A break above Friday’s highs during the opening rotation could trigger a strong rally.
|BHP Group (BHP)|
|Tribal Grp. (TRB)|
|Tremor Int Ltd (TRMR)|
|Impact Health (IHR)|
|Bank Of Georgia Group (BGEO)|
|Softline Reg S (SFTL)|
|Watches Switz (WOSG)|
|UK Economic Announcements|
|(07:00) Unemployment Rate|
|(07:00) Claimant Count Rate|
|International Economic Announcements|
|(14:15) Industrial Production (US)|
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This research is prepared for general information only and should not be construed as any form of investment advice.