22nd Dec 2021. 7.46am
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|
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.
|UK Economic Announcements|
|07:00 Gross Domestic Product (Q3)|
|International Economic Announcements|
|13:30 US Gross Domestic Product (Q3)|
|(15:00) US Consumer Confidence|
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This research is prepared for general information only and should not be construed as any form of investment advice.