18th Aug 2021. 7.47am
Morning Report – Wednesday 18th August
FTSE to open at 7,189 (+9 pts)
UK inflation fell back to the Bank of England’s 2% target – reducing the probability that monetary policy will be tightened…
This morning’s Consumer Price Index (YoY) came in at 2% below forecasts (2.2%) in July with the clothing, recreation and culture sectors dragging the rate of price growth lower.
In Asia it’s been a quiet session with the Hang Seng Index treading water after yesterday’s sell-off.
|S&P 500||-0.71%||Bearish for UK stocks|
|Hang Seng||+0.66%||Bullish for UK stocks|
|Gold||-0.07%||Neutral for UK stocks|
|AUD/JPY||+0.22%||Neutral for UK stocks|
|US 10yr Yield||-0.09%||Neutral for UK stocks|
We highlighted in yesterday’s FTSE 100 Technical Outlook video that ‘should the market continue from bullish long-tailed candles then a retest of resistance is likely’ and this has played out within the last 24hrs…
The market closed well above intra-day lows yesterday, and the futures have pushed higher in early trading to take the market back to the key resistance created by the June swing highs – the bulls will be hoping its second time lucky!
|Balfour Beatty (BBY)|
|TBC Bank Group (TBCG)|
|UK Economic Announcements|
|(07:00) Consumer Price Index|
|(07:00) Retail Price Index|
|(07:00) Producer Price Index|
|International Economic Announcements|
|(10:00) Consumer Price Index (EU)|
|(12:00) MBA Mortgage Applications (US)|
|(13:30) Housing Starts (US)|
|(13:30) Building Permits (US)|
|(15:30) Crude Oil Inventories (US)|
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