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21st Sep 2022. 7.44am

Regency View:

Morning Report – Wednesday 21st September

FTSE to open at 7,172 (-19 pts)

Stocks on Wall Street resumed their recent slide yesterday as the yield on US Treasuries continued to march higher.

Asian stocks have mirrored the losses on Wall Street with Hong Kong’s Hang Seng index, Japan’s Topix and China’s CSI 300 all dropping more than -1%.

The market will be closely watching the US Federal Reserve, which is expected to deliver a third consecutive 0.75 percentage point increase in interest rate later today.

S&P 500-1.13%Bearish for UK stocks
Hang Seng-1.10%Bearish for UK stocks
Gold+0.54%Bearish for UK stocks
AUD/JPY-0.18%Neutral for UK stocks
US 10yr Yield+73ptsBearish for UK stocks
Regency Risk Barometer Snapshot

Yesterday’s price action saw the FTSE touch the interim resistance level at 7,323 before reversing to close near the bottom of the long-term wedge.

Whilst there are now multiple support levels to support the market, short-term momentum is firmly bearish.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Galliford Try (GFRD)
Supermarket Inc (SUPR)
Interim Results
Lbg Media (LBG)
Pennant International (PEN)
Keywords Studio (KWS)
Mhc Plc (MHC)
Alphawave Ip (AWE)
Pjsc Polyus S (PLZL)
Warpaint London (W7L)
M&C Saatchi (SAA)
City Pub Group. (CPC)
Dianomi (DNM)
Ten Ent Grp (TEG)
Pendragon (PDG)
Monreal (MORE)
Ingenta (ING)
S4 Cap. (SFOR)
UK Economic Announcements
(07:00) Public Sector Net Borrowing
International Economic Announcements
(12:00) MBA Mortgage Applications (US)
(15:30) Crude Oil Inventories (US)
(15:00) Existing Home Sales (US)
(18:00) Fed Interest Rate Decision (US)
(18:00) Fed’s Monetary Policy Statement (US)
(18:00) FOMC Economic Projections (US)
(18:30) FOMC Press Conference (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.