4th Jan 2022. 7.46am
Regency View:
Morning Report – Tuesday 4th January
FTSE to open at 7,458 (+73 pts)
US government bonds were sold off sharply yesterday causing the biggest jump in US 10yr Yield since the announcement of the Omicron variant.
The move comes as traders kicked off the New Year by pricing-in tighter monetary policy from the Fed.
Overnight in Asia, Japanese and Australian stocks were strong while the Hang Seng was muted after China’s cybersecurity watchdog announced official rules that will strengthen its oversight.
| S&P 500 | +0.64% | Bullish for UK stocks |
| Hang Seng | -0.35% | Neutral for UK stocks |
| Gold | +0.31% | Bearish for UK stocks |
| AUD/JPY | +0.64% | Bullish for UK stocks |
| US 10yr Yield | +101pts | Bearish for UK stocks |
The FTSE cash market is set to start the new year with a bang!
Price action on the futures market during the last 48hrs has seen prices form a new swing low and rally sharply higher.
And the futures are indicating that the cash market will open just below last week’s swing highs.
FTSE 100 Daily Rolling Futures – Key Levels
| International Economic Announcements |
| (07:00) Retail Sales (EU) |
| (15:00) ISM Manufacturing (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.