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14th Apr 2021. 7.46am

Regency View:

Morning Report – Wednesday 14th April

FTSE to open at 6,895 (+5 pts)

For the first time this year, US tech stocks and US 10yr yields rallied simultaneously. This indicates that the market is potentially shifting focus away from inflation concerns and back towards the speed of the vaccine rollout, which has stalled in the US in recent weeks with traders buying COVID-proof tech stocks.

We have the first of the US banks reporting earnings today – click here for our preview video on US Bank Earnings Week.

Whilst the futures are pointing to a flat open, there is a distinctly bullish feel to our risk barometer, so it wouldn’t be too surprising to see a rally at the opening bell.

S&P 500+0.33%Bullish for UK stocks
Hang Seng+1.41%Bullish for UK stocks
Gold+0.15%Neutral for UK stocks
AUD/JPY+0.36%Bullish for UK stocks
US 10yr Yield+0.54%Neutral for UK stocks
Regency Risk Barometer Snapshot

For the second consecutive session the market bounced from the ascending trendline that we’ve been highlighting for the past week.

Interestingly, yesterday’s range was fully contained within Monday’s range – forming an inside day pattern. This compression pattern signals that the market may be gearing up for a directional move.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Destiny Pharma. (DEST)
Tesco (TSCO)
The Mission Group (TMG)
Trading Announcements
Audioboom Grp. (BOOM)
Robert Walters (RWA)
International Economic Announcements
(10:00) Industrial Production (EU)
(12:00) MBA Mortgage Applications (US)
(13:30) Import and Export Price Indices (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.