10th Mar 2021. 7.49am
Morning Report – Wednesday 10th March
FTSE to open at 6,695 (-35 pts)
It’s been a quiet Asian session with the bond market out of the headlines and the Hang Seng holding above long-term support.
The risk barometer has a bullish to neutral outlook thanks to a solid set of gains in US trading. And whilst the FTSE futures are set for a weak open, this could attract buyers.
|S&P 500||-1.13%||Bearish for UK stocks|
|Hang Seng||-1.10%||Bearish for UK stocks|
|Gold||+0.54%||Bearish for UK stocks|
|AUD/JPY||-0.18%||Neutral for UK stocks|
|US 10yr Yield||+73pts||Bearish for UK stocks|
The FTSE came within touching distance of testing the 6,800 February swing highs before beating a hasty retreat.
With the futures languishing near yesterday’s lows, the market will need to hold above the broken swing resistance area at 6,705 to maintain a bullish outlook.
A break of yesterday’s lows in early trading will likely lead to a move down into the 6,600 area.
|Thungela Res (TGA)|
|Mti Wireless (MWE)|
|UK Economic Announcements|
|(00:01) RICS Housing Market Survey|
|International Economic Announcements|
|(07:00) Wholesale Price Index (GER)|
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This research is prepared for general information only and should not be construed as any form of investment advice.