31st Aug 2021. 7.46am
Regency View:
Morning Report – Tuesday 31st August
FTSE to open at 7,171 (+23 pts)
The S&P pushed to another record high yesterday as traders responded to a key speech from Federal Reserve chair Jay Powell at Friday’s Jackson Hole symposium…
Whilst the Fed chair talked of dialing down monetary stimulus, he avoided any signals of a more sudden withdrawal that risked spooking markets.
Looking ahead this week, there is a raft of economic data from the eurozone: inflation data on today, unemployment figures on Wednesday and finishing with retail sales on Friday.
| S&P 500 | +0.43% | Bullish for UK stocks |
| Hang Seng | +0.62% | Bullish for UK stocks |
| Gold | +0.49% | Bearish for UK stocks |
| AUD/JPY | +0.61% | Bullish for UK stocks |
| US 10yr Yield | -1.83% | Bearish for UK stocks |
With the cash market closed yesterday, the FTSE futures mirrored the S&P 500 and pushed steadily higher.
The FTSE needs to hold above 7,152 during the opening rotation for bullish momentum to be maintained. A swift break below today’s overnight lows at 7,137 could trigger a fresh wave of selling pressure.
FTSE 100 Daily Rolling Futures – Key Levels
| Interim Results |
| Ab Ignitis. S (IGN) |
| Centralnic (CNIC) |
| Globaltrans S (GLTR) |
| Q2 Results |
| Ab Ignitis. S (IGN) |
| Fondul Proprietatea (FP.) |
| UK Economic Announcements |
| (09:30) Consumer Credit |
| International Economic Announcements |
| (07:00) Import Price Index (GER) |
| (08:55) Unemployment Rate (GER) |
| (14:00) House Price Index (US) |
| (14:45) Chicago PMI (US) |
| (15:00) Consumer Confidence (US) |
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Disclaimer:
This research is prepared for general information only and should not be construed as any form of investment advice.