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22nd Dec 2021. 7.46am

Regency View:

Morning Report – Wednesday 22nd December

FTSE to open at 7,300 (+3 pts)

Wall Street bounced back yesterday as markets continue to flip flop on the impact Omicron is having on global growth.

It has been a relatively quiet Asian session with the Hang Seng and Nikkei 225 treading water in small positive territory.

This morning’s UK GDP numbers revealed that Britain’s economy grew more slowly than previously thought in the July-September period (+1.1% for Q3).

S&P 500+1.78%Bullish for UK stocks
Hang Seng+0.30%Bullish for UK stocks
Gold-0.12%Neutral for UK stocks
AUD/JPY-0.17%Neutral for UK stocks
US 10yr Yield+2.46%Bearish for UK stocks
Regency Risk Barometer Snapshot

The FTSE closed near intra-day highs yesterday as the market posted a strong session following Monday’s bullish reversal candle.

Given the FTSE’s recent swing structure, we could see a large wedge pattern develop (see gold dotted lines on chart below), prices look set test the top of this emerging wedge this week.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
UK Economic Announcements
07:00 Gross Domestic Product (Q3)
International Economic Announcements
13:30 US Gross Domestic Product (Q3)
(15:00) US Consumer Confidence
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.