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9th Aug 2022. 7.45am

Regency View:

Morning Report – Tuesday 9th August

FTSE to open at 7,472 (-10 pts)

US stocks ticked lower yesterday as traders weight the outlook for rate rises against Friday’s strong non-farm payrolls.

Overnight in Asia, stocks have followed Wall Street lower with the Hang Seng currently -0.21% in the red and the Nikkei 225 down -0.88%.

S&P 500-0.12%Neutral for UK stocks
Hang Seng-0.21%Neutral for UK stocks
Gold-0.22%Neutral for UK stocks
AUD/JPY-0.17%Neutral for UK stocks
US 10yr Yield-93ptsBullish for UK stocks
Regency Risk Barometer Snapshot

Yesterday’s price action saw the FTSE press higher into the top of the inside day pattern that we highlighted in previous Morning Reports.

Importantly, the market could not close above the inside day highs and this makes the market vulnerable to a retest of the inside day lows.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
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Disclaimer:

This research is prepared for general information only and should not be construed as any form of investment advice.