17th Aug 2021. 7.46am
Morning Report – Tuesday 17th August
FTSE to open at 7,118 (-36pts)
The theme of tightening Chinese regulation continued overnight with Beijing banning unfair competition among internet companies…
China’s antitrust watchdog said it would tighten antitrust and data restrictions on platforms – sparking a sell-off in Chinese tech shares and Hong Kong’s Hang Send Index is more than 2% lower on the day.
Looking ahead, we have U.S retails sales hitting our screens this afternoon, and the market is expecting a -0.2% month-on-month contraction as consumers held off on purchases amid Covid delta worries.
|S&P 500||+0.26%||Bullish for UK stocks|
|Hang Seng||-2.06%||Bearish for UK stocks|
|Gold||+0.29%||Bearish for UK stocks|
|AUD/JPY||-0.40%||Bearish for UK stocks|
|US 10yr Yield||-0.34%||Bearish for UK stocks|
The FTSE’s retreat from resistance has continued and the futures have fallen away this morning to retest yesterday’s lows.
A swift break below yesterday’s low during the opening rotation could trigger a deeper sell-off as the short-term support at 7093 is relatively tenuous.
|BHP Group (BHP)|
|Van Elle (VANL)|
|Genuit Grp Plc (GEN)|
|Electrica Regs (ELSA)|
|UK Economic Announcements|
|(07:00) Claimant Count Rate|
|(07:00) Unemployment Rate|
|International Economic Announcements|
|(10:00) GDP (Preliminary) (EU)|
|(13:30) Retail Sales (US)|
|(14:15) Capacity Utilisation (US)|
|(14:15) Industrial Production (US)|
|(15:00) Business Inventories (US)|
Don’t have a Regency account yet?
Start receiving our actionable Market Alerts and Analysis with real-time email and SMS alerts throughout your trading day. Simply click below to create your account for free.Create Account
Any Questions? Please feel free to call 0203 973 8007 or email us at firstname.lastname@example.org
This research is prepared for general information only and should not be construed as any form of investment advice.