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17th Nov 2021. 7.45am

Regency View:

Morning Report – Wednesday 17th November

FTSE to open at 7,309 (-18 pts)

Upbeat US retail sales saw stocks on Wall Street rally yesterday and also caused a strong surge in the US dollar.

The dollar strength has weighed on Asian stocks overnight with both the Nikkei 225 and Hang Seng in negative territory.

This morning’s UK inflation data jumped more than expected – hitting its highest level in almost a decade, increasing pressure on the Bank of England to raise interest rates…

The annual rate of the UK consumer price index increased 4.2% in October, up from 3.1% in September and the fastest pace since November 2011.

S&P 500+0.39%Bearish for UK stocks
Hang Seng-0.50%Bullish for UK stocks
Gold+0.32%Bearish for UK stocks
AUD/JPY+0.07%Neutral for UK stocks
US 10yr Yield+1.57%Bullish for UK stocks
Regency Risk Barometer Snapshot

The FTSE failed to hold onto its gains yesterday and the pullback deepened, taking the market through the steepest ascending trendline.

Before we turn too bearish, it’s important to note that there are multiple layer of trend support in place, most notably the broken summer highs at 7,220 – 7,235.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Sage Group (SGE)
Interim Results
Cmc Mkts (CMCX)
Experian (EXPN)
Speedy Hire (SDY)
Tatton Asset M. (TAM)
Workspace (WKP)
Q3 Results
Bank Of Georgia Group (BGEO)
Trading Announcements
Safestore (SAFE)
UK Economic Announcements
(07:00) Producer Price Index
(07:00) Retail Price Index
(07:00) Consumer Price Index
International Economic Announcements
(12:00) MBA Mortgage Applications (US)
(13:30) Building Permits (US)
(13:30) Housing Starts (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.