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20th Jul 2021. 7.48am

Regency View:

Morning Report – Tuesday 20th July

FTSE to open at 6,873 (+29 pts)

Fear has gripped global markets this week as the impact of the Delta variant continues to take its toll…

Wall Street has had its weakest three-day losing streak since May, and Asian stocks have continued to drop overnight.

Our Risk Barometer has a distinctly bearish feel to it as we head into the European open.

S&P 500-1.59%Bearish for UK stocks
Hang Seng-1.12%Bearish for UK stocks
Gold+0.31%Bearish for UK stocks
AUD/JPY-0.26%Bearish for UK stocks
US 10yr Yield-5.41%Bearish for UK stocks
Regency Risk Barometer Snapshot

Yesterday’s price action saw the FTSE slice through the June swing lows at 6,945 and press down into the May swing lows at 6,823.

As can be seen from the chart (below), the May swing low support area coincides with previous resistance / turned support at 6,800 – creating a zone of support.

Given the significance of this support level and the fact that the FTSE has fallen 300+ points in five sessions, we would expect to see some form of relief rally today.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
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Sosandar (SOS)
Supreme Plc (SUP)
Interim Results
Audioboom Grp. (BOOM)
One Media (OMIP)
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Trading Announcements
Anglo American (AAL)
BHP Group (BHP)
Cloudcall Grp (CALL)
Cvs Group (CVSG)
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UK Economic Announcements
(09:00) Current Account (EU)
International Economic Announcements
(07:00) Producer Price Index (GER)
(09:00) Current Account (EU)
(10:00) Consumer Price Index (EU)
(13:30) Housing Starts (US)
(13:30) Building Permits (US)
Today’s Financial Diary

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This research is prepared for general information only and should not be construed as any form of investment advice.