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12th Oct 2022. 7.47am

Regency View:

Morning Report – Wednesday 12th October

FTSE to open at 6,916 (+31 pts)

Stocks on Wall Street pressed down into their early-October swing lows on Tuesday as the markets reopened following the Columbus Day holiday.

Overnight in Asia, the Hang Seng has weakened as Chinese authorities renewed their call for the country to maintain its strict zero-Covid policy.

This morning’s UK GDP data came in below expectations with UK economy shrinking 0.3% in August – signalling that the cost of living crisis is starting to take hold.

And the FT is reporting that the Bank of England has signalled privately to bankers that it could extend its emergency bond-buying programme past this Friday’s deadline.

PLEASE NOTE: This Friday will be our last Morning Report bulletin. Moving forward, we will be focusing on our trader education service, Regency Academy. You can sign up to our FREE course, Seven Secrets of Price Action Trading by CLICKING HERE.

S&P 500-0.69%Bearish for UK stocks
Hang Seng-0.42%Bearish for UK stocks
Gold+0.47%Bearish for UK stocks
AUD/JPY+0.38%Bullish for UK stocks
US 10yr Yield-9ptsNeutral for UK stocks
Regency Risk Barometer Snapshot

The FTSE daily rolling futures had a weak session yesterday – pressing down into the long-term support zone and closing near intra-day lows.

We will be watching for signs of selling exhaustion (long-tailed bullish candles) at the support zone.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Kin and Carta (KCT)
Trading Announcements
Novolip Regs (NLMK)
PageGroup (PAGE)
UK Economic Announcements
(07:00) Manufacturing Production
(07:00) Index of Services
(07:00) Balance of Trade
(07:00) Industrial Production
(07:00) Gross Domestic Product
International Economic Announcements
(10:00) Industrial Production (EU)
(10:30) Current Account (GER)
(12:00) MBA Mortgage Applications (US)
(13:30) Producer Price Index (US)
(15:30) Crude Oil Inventories (US)
Today’s Financial Diary

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