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25th May 2021. 7.39am

Regency View:

Morning Report – Tuesday 25th May

FTSE to open at 7,072 (+20 pts)

A glance at our Risk Barometer (below) shows that markets have a distinctly bullish feel as we head into European trading…

Wall Street put in a solid move higher as inflation fears receded in-line with dropping bond yields. And Asian stocks have continued the bullish sentiment with Hong Kong’s Hang Seng index having it’s best day in over a month.

As mentioned yesterday, it’s worth keeping an eye on this afternoon’s US house price data as it has previously disappointed the market.

S&P 500+0.99%Bullish for UK stocks
Hang Seng+1.54%Bullish for UK stocks
Gold-0.16%Bullish for UK stocks
AUD/JPY+0.17%Bullish for UK stocks
US 10yr Yield-0.88%Bullish for UK stocks
Regency Risk Barometer Snapshot

The FTSE has moved to the top of the wedge pattern, with the futures actually breaking above the wedge prior to this morning’s open.

Today’s price action during the opening rotations should tell us quite a bit about the market’s short-term directional bias…

Should we quickly retreat and break the overnight low, then a swift retest of the bottom of the wedge is the most likely scenario. If however, we hold above the wedge during the open, then a move up into interim swing resistance at 7,109 looks likely.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Aveva Group (AVV)
Big Yellow (BYG)
Calnex Solutio. (CLX)
Electrocomponents (ECM)
Helical Bar (HLCL)
Hurricane Energ (HUR)
Speedy Hire (SDY)
Warehouse Reit (WHR)
Interim Results
Avon Rubber (AVON)
Greencore (GNC)
Ixico (IXI)
Shaftesbury (SHB)
UK Economic Announcements
(07:00) Public Sector Net Borrowing
International Economic Announcements
(07:00) Import Price Index (GER)
(07:00) Gross Domestic Product (GER)
(09:00) IFO Expectations (GER)
(09:00) IFO Business Climate (GER)
(09:00) IFO Current Assessment (GER)
(14:00) House Price Index (US)
(15:00) New Homes Sales (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.