14th Sep 2022. 7.50am
Regency View:
Morning Report – Wednesday 14th September
FTSE to open at 7,342 (-43 pts)
Stocks on Wall Street sank lower yesterday as US inflation data came in ahead o expectations…
The consumer price index increased 0.1% for August, above economists’ expectations for a 0.1% drop.
Core inflation — which strips out volatile items like energy and food — rose by 0.6% for an annual increase of 6.3%, compared with 5.9% recorded for July.
Traders quickly moved to recalibrate the future path of Fed interest rates, and the S&P tumbled more than -4%.
| 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 |
Yesterday’s price action saw the FTSE put in a sharp reversal – forming a bearish engulfing pattern.
The strength of yesterday’s reversal could see the FTSE head lower to retest the bottom of the long-term wedge which appears to be tightening.
FTSE 100 Daily Rolling Futures – Key Levels
| Interim Results |
| 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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Disclaimer:
This research is prepared for general information only and should not be construed as any form of investment advice.