30th Aug 2022. 7.45am
Morning Report – Tuesday 30th August
FTSE to open at 7,410 (+17 pts)
Global stocks weakened and Treasury yields climbed on Monday after central bankers warned of a sustained period of higher interest rates.
Overnight in Asia stocks have been mixed with Hong Kong’s Hang Seng dropping back towards last week’s lows and the Nikkei 225 erasing yesterday’s losses by closing more than 1% higher.
Looking ahead at key economic data this week, we have European and US consumer confidence figures today and US nonfarm payrolls on Friday.
|S&P 500||-0.67%||Bearish for UK stocks|
|Hang Seng||-0.51%||Bearish for UK stocks|
|Gold||-0.23%||Bullish for UK stocks|
|AUD/JPY||-0.10%||Neutral for UK stocks|
|US 10yr Yield||+63pts||Bearish for UK stocks|
Yesterday’s Bank Holiday price action on the FTSE daily rolling futures saw the market retest the support area at 7,361…
After initially breaking below it, the market rallied back to print a small bullish hammer candle at the support zone.
|Uniphar Plc (UPR)|
|Old Mutual Lim. (OMU)|
|UK Economic Announcements|
|(09:30) M4 Money Supply|
|(09:30) Mortgage Approvals|
|(09:30) Consumer Credit|
|International Economic Announcements|
|(10:00) Consumer Confidence (EU)|
|(10:00) Economic Sentiment Indicator (EU)|
|(10:00) Industrial Production (EU)|
|(10:00) Business Climate Indicator (EU)|
|(13:00) Consumer Price Index (GER)|
|(14:00) House Price Index (US)|
|(15:00) Consumer Confidence (US)|
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This research is prepared for general information only and should not be construed as any form of investment advice.