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31st May 2022. 7.45am

Regency View:

Morning Report – Tuesday 31st May

FTSE to open at 7,610 (+10 pts)

Wall Street was closed for Memorial Day yesterday and the S&P 500 futures tread water after strong gains towards the end of last week.

Overnight in Asia, Chinese stocks have rallied on the lifting of Covid-19 restrictions. While oil prices have jumped after EU leaders reached an agreement late Monday to ban 90% of Russian crude by the end of the year.

S&P 500ClosedBullish for UK stocks
Hang Seng+1.29%Bullish for UK stocks
Gold+0.01%Neutral for UK stocks
AUD/JPY+0.31%Bullish for UK stocks
US 10yr Yield+57ptsBearish for UK stocks
Regency Risk Barometer Snapshot

Yesterday’s price action saw the FTSE edge higher – forming its second consecutive narrowest daily range in over seven sessions.

The market seems to have found some resistance at the early-May swing highs (7,621), but as yet we’ve not seen any clear rejection of this level.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
International Economic Announcements
(07:55) German Unemployment Change (May) (EUR)
(13:00) Housing Price Index (MoM)(Mar) (USD)
(13:00) Consumer Confidence (May) (USD)
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.