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28th Jul 2021. 7.47am

Regency View:

Morning Report – Wednesday 28th July

FTSE to open at 6,995 (-1 pt)

The brutal sell-off in Chinese stocks that we’ve seen this week has taken a pause overnight as investors await this evening’s comments from the Fed…

Markets will be watching closely for any hints in relation to inflation, economic growth, the path of interest rates and when the Fed will likely start tapering its bond buying program.

Meanwhile, this morning’s results from Barclays has seen first-half profits nearly treble due to a strong performance from its investment banking business.

S&P 500-0.47%Bearish for UK stocks
Hang Seng+0.81%Bullish for UK stocks
Gold+0.35%Bearish for UK stocks
AUD/JPY+0.17%Bullish for UK stocks
US 10yr Yield-3.87%Bearish for UK stocks
Regency Risk Barometer Snapshot

Yesterday’s price action saw the FTSE break lower from the inside day pattern only to close back inside Friday’s range – forming a bullish ‘fakeout’ pattern.

We would expect to see the market retest Friday’s highs during today’s session.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Hargreaves Serv (HSP)
Shearwater (SWG)
Interim Results
Aptitude (APTD)
Barclays (BARC)
British American Tobacco (BATS)
Conduit Hldg (CRE)
Getbusy (GETB)
Hutchmed (HCM)
Musicmagpie (MMAG)
Primary Health (PHP)
Quartix Tech (QTX)
Rathbone (RAT)
Rio Tinto (RIO)
Smurfit Kappa (SKG)
St James Place (STJ)
Q1 Results
Wizz Air (WIZZ)
Q2 Results
Glaxosmithkline (GSK)
Lancashire Holdings (LRE)
International Economic Announcements
(07:00) GFK Consumer Confidence (GER)
(12:00) MBA Mortgage Applications (US)
(13:30) Gross Domestic Product (US)
(15:30) Crude Oil Inventories (US)
(19:00) Fed Interest Rate Decision (US)
(19:00) Fed Monetary Policy Statement (US)
(19:30) 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.