18th Jan 2022. 7.39am
Morning Report – Tuesday 18th January
FTSE to open at 7,598 (-13 pts)
Asian stocks have weakened overnight as U.S. Treasury yields hit their highest level in almost two years with investors weighing the risks of a Fed policy rate rise as soon as March.
While oil hit seven-year highs overnight over concerns about supply shocks after Yemen’s Houthi group attacked the United Arab Emirates.
Brent crude, the international benchmark for oil broke past the $86.68 highs reached in October 2018 and November 2021 – adding further pressure to the inflationary backdrop.
|S&P 500 (futures)||-0.19%||Neutral for UK stocks|
|Hang Seng||-0.83%||Bearish for UK stocks|
|Gold||-0.23%||Bullish for UK stocks|
|AUD/JPY||+0.06%||Neutral for UK stocks|
|US 10yr Yield||+45pts||Bearish for UK stocks|
The FTSE continued on its upward trajectory yesterday, closing near its intra-day highs.
Price action on the futures overnight has seen a mild rejection of higher prices and this may set the tone for a retracement day.
|UK Economic Announcements|
|07:00 Claimant Count Change (Dec)|
|07:00 ILO Unemployment Rate (3M)(Nov)|
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