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15th Dec 2021. 7.45am

Regency View:

Morning Report – Wednesday 15th December

FTSE to open at 7,212 (-7 pts)

Wall Street weakened yesterday as traders grew nervous ahead of this afternoon’s Fed rate decision, economic projections and FOMC statement…

The Fed’s rhetoric has been hawkish in recent weeks, and markets expect a quicker end to its bond-buying scheme along with multiple rate increases over the next few years.

This morning’s UK inflation data came in well ahead of expectations with producer input prices jumping 14.3% year-on-year, producer output prices rising 9.1% year-on-year, and the Retail Price Index increasing 7.1% year-on-year.

S&P 500-0.75%Bearish for UK stocks
Hang Seng-1.19%Bearish for UK stocks
Gold-0.15%Neutral for UK stocks
AUD/JPY+0.31%Bullish for UK stocks
US 10yr Yield+2.17%Bearish for UK stocks
Regency Risk Barometer Snapshot

The FTSE failed to maintain its bounce from support during yesterday’s session. And this morning’s strong UK inflation data has caused the FTSE futures to move below support.

We have a small interim level of support at 7,181 (see thin blue dotted line on chart below), the market really needs to find a footing today to rule out a retest of the early-December lows.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Hollywood Bwl (BOWL)
Jersey Electricity (JEL)
Pressure Tech (PRES)
Interim Results
Baltic (BCG)
Currys Plc (CURY)
In The Style G. (ITS)
Q3 Results
Condor Gold (CNR)
UK Economic Announcements
07:00 UK Producer Price Index
07:00 UK Retail Price Index
International Economic Announcements
13:30 US Retail Sales
19:00 Fed Interest Rate Decision
19:00 Fed Economic Projections
19:30 FOMC Press Conference
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.