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18th Aug 2021. 7.47am

Regency View:

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
Regency Risk Barometer Snapshot

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!

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Interim Results
Balfour Beatty (BBY)
Persimmon (PSN)
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)
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.