7th Jun 2022. 7.45am
Morning Report – Tuesday 7th June
FTSE to open at 7,589 (+19 pts)
Stocks on Wall Street managed to close in positive territory despite losing most of its early gains during the second half of the session.
While the yield on US 10-year Treasury’s surged 97pts in anticipation of continued monetary tightening from the Fed.
Overnight in Asia, stocks were mixed with Shanghai and Tokyo advancing while Hong Kong and Seoul declined. The Japanese yen, trading at two-decade lows, fell further to below 132 to the dollar.
|S&P 500||+0.31%||Bullish for UK stocks|
|Hang Seng||-0.44%||Bearish for UK stocks|
|Gold||-0.11%||Neutral for UK stocks|
|AUD/JPY||+0.68%||Bullish for UK stocks|
|US 10yr Yield||+97pts||Bearish for UK stocks|
Yesterday’s price action saw the FTSE reject resistance – closing well below its intra-day highs.
A break below yesterday’s low during the opening rotation could trigger a larger wave of selling pressure.
|International Economic Announcements|
|(12:30) US Goods and Services Trade Balance (Apr) (USD)|
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This research is prepared for general information only and should not be construed as any form of investment advice.