10th Aug 2022. 7.48am
Regency View:
Morning Report – Wednesday 10th August
FTSE to open at 7,474 (-14 pts)
Stocks on Wall Street continued to tread water near recent highs as investors await today’s key inflation data…
US consumer price index inflation reached 9.1% in June, the highest level in 40 years, which the Fed has met with back-to-back interest rate increases of 0.75 percentage points.
Overnight in Asia, stocks in Hong Kong have sank more than -2% lower – taking the Hang Seng index back to its May lows.
| S&P 500 | -0.42% | Bearish for UK stocks |
| Hang Seng | -2.53% | Bearish for UK stocks |
| Gold | -0.34% | Bullish for UK stocks |
| AUD/JPY | -0.19% | Neutral for UK stocks |
| US 10yr Yield | +22pts | Neutral for UK stocks |
The FTSE daily rolling futures printed its smallest daily range of the year as the market coiled beneath the inside day highs.
This tiny daily range indicates that the market could be set for a multi-day directional move.
FTSE 100 Daily Rolling Futures – Key Levels
| Interim Results |
| ContourGlobal (GLO) |
| Legal & General (LGEN) |
| CLS Holdings (CLI) |
| Genuit Grp Plc (GEN) |
| Hostelworld (HSW) |
| Atalaya Mining (ATYM) |
| Arix Bioscience (ARIX) |
| International Economic Announcements |
| (07:00) Consumer Price Index (GER) |
| (12:00) MBA Mortgage Applications (US) |
| (13:30) Consumer Price Index (US) |
| (15:00) Wholesales Inventories (US) |
| (15:30) Crude Oil Inventories (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.