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1st Dec 2021. 7.44am

Regency View:

Morning Report – Wednesday 1st December

FTSE to open at 7,114 (+55 pts)

Jerome Powell struck a more hawkish tone than had been anticipated when he addressed lawmakers yesterday…

The Fed Chair said signalled his support for a quicker withdrawal of the central banks massive asset purchase programme, stating “the economy is very strong and inflationary pressures are high”

Adding “it is therefore appropriate in my view to consider wrapping up the taper of our asset purchases . . . perhaps a few months sooner.”

Overnight in Asia, stocks have bounced from lows with the Hang Seng set for its best session in almost two months.

Looking ahead, today will be a chance to compare the state of leading economies through the manufacturing Purchasing Managers’ Index (PMI) data with Europe and Germany kicking things off this morning followed by the US this afternoon.

S&P 500-1.90%Bearish for UK stocks
Hang Seng+1.11%Bullish for UK stocks
Gold+0.62%Bearish for UK stocks
AUD/JPY+0.64%Bullish for UK stocks
US 10yr Yield-3.55%Bullish for UK stocks
Regency Risk Barometer Snapshot

The FTSE continues to whipsaw within a broad range within the bottom half of Friday’s range.

The long-term this consolidation within the bottom half of the range continues, the higher the probability of directional move to the downside.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Residential Sec (RESI)
Interim Results
Tpximpact Hldg (TPX)
Redde Northgate (REDD)
Liontrust Asset Management (LIO)
Peel Hunt (PEEL)
Brickability (BRCK)
Marlowe (MRL)
D4t4 Solutions (D4T4)
Custodian Reit (CREI)
International Economic Announcements
(15:30) Crude Oil Inventories (US)
(07:00) Retail Sales (GER)
(12:00) MBA Mortgage Applications (US)
(15:00) Construction Spending (US)
(09:00) PMI Manufacturing (EU)
(08:55) PMI Manufacturing (GER)
(14:45) PMI Manufacturing (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.