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14th Jul 2021. 7.46am

Regency View:

Morning Report – Wednesday 14th July

FTSE to open at 7,109 (-15 pts)

Yesterday’s U.S. inflation data came in higher than expected with the U.S. Consumer Price Index (ex Food & Energy) rising 0.9% month-on-month (0.4% expected) and rising 4.5% year-on-year (4% expected).

Traders reacted cautiously to the inflation data with the S&P ending yesterday’s session lower, and this caution has followed through into today’s Asian session.

Sticking with the inflation theme, this morning’s UK inflation data rose sharply in June, far exceeding expectations and adding to pressure on the Bank of England.

The annual rate of UK inflation hit 2.5% in June, rising from a rate of 2.1 per cent in May, the highest since August 2018.

S&P 500-0.35%Bearish for UK stocks
Hang Seng-0.71%Bearish for UK stocks
Gold+0.35%Bearish for UK stocks
AUD/JPY+0.12%Neutral for UK stocks
US 10yr Yield+4.11%Bullish for UK stocks
Regency Risk Barometer Snapshot

Yesterday’s price action saw the FTSE post its narrowest trading range in over seven sessions yesterday – signalling indecision and volatility compression.

Today’s strong inflation data has seen the futures break below yesterday’s low, and it looks as though we’re in for a bearish start.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Accrol Gp (ACRL)
Great Eastern (GEEC)
Knights Group (KGH)
Kromek (KMK)
System1 Group (SYS1)
Q2 Results
PageGroup (PAGE)
Q4 Results
Dunelm (DNLM)
Trading Announcements
Ashmore (ASHM)
Barratt Developments (BDEV)
Dunelm (DNLM)
UK Economic Announcements
(07:00) Producer Price Index
(07:00) Consumer Price Index
(07:00) Retail Price Index
International Economic Announcements
(10:00) Industrial Production (EU)
(12:00) MBA Mortgage Applications (US)
(15:30) Crude Oil Inventories (US)
(17:00) Fed’s Chair Powell testifies
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.