21st Jul 2021. 7.47am
Regency View:
Morning Report – Wednesday 21st July
FTSE to open at 6,894 (+13 pts)
Yesterday’s price action saw the markets take a brief respite from their flight-to-safety sell-off with Wall Street rallying and bond prices falling (yields rising) for the first time in five sessions.
However, overnight in Asia shares have resumed the sell-off with Hong Kong’s Hang Seng index trading back near six-month lows, and the safe haven currencies Japanese yen and U.S. dollar strengthening.
| S&P 500 | +1.52% | Bullish for UK stocks |
| Hang Seng | -0.64% | Bearish for UK stocks |
| Gold | +0.12% | Neutral for UK stocks |
| AUD/JPY | -0.42% | Bearish for UK stocks |
| US 10yr Yield | +2.76% | Bullish for UK stocks |
The FTSE put in a small bounce from the key support area at 6,800 during yesterday’s session.
It’s also worth noting that yesterday’s trading range was contained within Monday’s range – forming an ‘inside day’ consolidation pattern.
Due to the strength of the recent sell-off and the inside day pattern, we would expect at least another retest of the support area in the coming sessions.
FTSE 100 Daily Rolling Futures – Key Levels
| Interim Results |
| Rtc Grp. (RTC) |
| Trading Announcements |
| Royal Mail (RMG) |
| Antofagasta (ANTO) |
| Advanced Medical Solutions Group (AMS) |
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Disclaimer:
This research is prepared for general information only and should not be construed as any form of investment advice.