17th Mar 2021. 7.44am
Regency View:
Morning Report – Wednesday 17th March
FTSE to open at 6,789 (-14 pts)
Markets are holding their breath ahead of today’s Fed meeting…
While no change in policy is expected, it is the FOMC economic projections and any comments relating to tackling the rise in bond yields that the traders will be most fixated on.
The market appears evenly divided on whether the Fed will signal that the first rate increase could come as early as 2023. Hence we’ll be keeping a close eye on the US 10-year treasury yield as we approach this afternoons announcement.
| S&P 500 | -0.16% | Neutral for UK stocks |
| Hang Seng | -0.07% | Neutral for UK stocks |
| Gold | +0.20% | Neutral for UK stocks |
| AUD/JPY | -0.02% | Neutral for UK stocks |
| US 10yr Yield | +0.88% | Neutral for UK stocks |
The FTSE continues to coil beneath 6,800 and this isn’t too surprising given the focus on the Fed.
Yesterday’s price action was fully contained within Monday’s range – forming an ‘inside day’ pattern. This pattern signals volatility compression is usually followed by a directional move, so we could be in for a volatile day’s trading…
FTSE 100 Daily Rolling Futures – Key Levels
| Final Results |
| Advanced Medical Solutions Group (AMS) |
| Dignity (DTY) |
| Empiric (ESP) |
| Ferrexpo (FXPO) |
| Hostelworld (HSW) |
| Kape Tech. (KAPE) |
| Mpac Group Plc (MPAC) |
| Science Sprt (SIS) |
| Tribal Grp. (TRB) |
| International Economic Announcements |
| (10:00) Consumer Price Index (EU) |
| (11:00) MBA Mortgage Applications (US) |
| (12:30) Building Permits (US) |
| (12:30) Housing Starts (US) |
| (12:30) Retail Sales (US) |
| (18:00) FOMC Economic Projections (US) |
| (18:00) Fed Rate Decision (US) |
| (18:00) Fed Monetary Policy Statement (US) |
| (18:00) Fed Press Conference (US) |
Don’t have a Regency account yet?
Start receiving our actionable Market Alerts and Analysis with real-time email and SMS alerts throughout your trading day. Simply click below to create your account for free.
Create AccountAny Questions? Please feel free to call 0203 973 8007 or email us at info@regency.capital
Disclaimer:
This research is prepared for general information only and should not be construed as any form of investment advice.