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1st Jun 2022. 7.56am

Regency View:

Morning Report – Wednesday 1st June

FTSE to open at 7,616 (+9 pts)

Stocks on Wall Street drifted lower yesterday, but managed to end a volatile month in positive territory…

The S&P 500 ended the month of May with a marginal 0.01% gain after being whipsawed for much of the last four weeks on concerns over inflation and the path of monetary policy.

Overnight in Asia, Chinese-related stocks have edged lower after strong gains earlier in the week, while Japanese stocks have broken to five-week highs.

S&P 500-0.63%Bearish for UK stocks
Hang Seng-0.79%Bearish for UK stocks
Gold-0.16%Neutral for UK stocks
AUD/JPY+0.45%Bullish for UK stocks
US 10yr Yield+43ptsBearish for UK stocks
Regency Risk Barometer Snapshot

Yesterday’s price action saw the FTSE break above resistance only to retreat and close lower on the day – forming a small bearish pin-bar candle.

Should the market break below yesterday’s low, we could see an acceleration of selling pressure as we head into the long weekend.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
International Economic Announcements
(06:00) German Retail Sales (YoY)(Apr) (EUR)
(11:00) ECB’s President Lagarde speech (EUR)
(14:00) ISM Manufacturing PMI (May) (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.