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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
Regency Risk Barometer Snapshot

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

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)
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.