23rd Aug 2022. 7.48am
Morning Report – Tuesday 23rd August
FTSE to open at 7,485 (-48 pts)
Stocks on Wall Street suffered their biggest decline in two months on Monday…
The sell-off was lead by declines in the tech sector and concerns that members of the Federal Reserve will adopt a hawkish tone at a symposium this week.
Overnight in Asia, stocks have mirrored the sell-off on Wall Street as Japan’s factory output growth hits lowest level in 19 months.
|S&P 500||-2.14%||Bearish for UK stocks|
|Hang Seng||-1.28%||Bearish for UK stocks|
|Gold||-0.03%||Neutral for UK stocks|
|AUD/JPY||-0.41%||Bearish for UK stocks|
|US 10yr Yield||+28pts||Neutral for UK stocks|
Yesterday’s price action bounced from the short-term support level created by Thursday’s lows.
However, this morning’s pre-open price action has seen the the market start to break below short-term support.
|Ab Ignitis. S (IGN)|
|UK Economic Announcements|
|(09:30) PMI Manufacturing|
|(09:30) PMI Composite|
|(09:30) PMI Services|
|International Economic Announcements|
|(09:00) PMI Composite (EU)|
|(09:00) PMI Services (EU)|
|(09:00) PMI Manufacturing (EU)|
|(14:45) PMI Composite (US)|
|(14:45) PMI Manufacturing (US)|
|(14:45) PMI Services (US)|
|(15:00) New Homes Sales (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
This research is prepared for general information only and should not be construed as any form of investment advice.