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28th Sep 2022. 7.46am

Regency View:

Morning Report – Wednesday 28th September

FTSE to open at 6,931 (-54 pts)

Stocks on Wall Street posted small losses yesterday as the S&P 500 tested key support at 3,640.

Overnight in Asia, China’s renminbi exchange rate fell to a record low on Wednesday, putting further pressure on the PBC intervene and prop up the country’s currency. And stocks in Hong Kong are trading more than -2.5% lower.

The pound has slipped back below 1.07 against the US dollar overnight, but prices remain more than 300 points above Monday’s lows.

S&P 500-0.21%Bearish for UK stocks
Hang Seng-2.59%Bearish for UK stocks
Gold-0.51%Bullish for UK stocks
AUD/JPY-0.73%Bearish for UK stocks
US 10yr Yield+15ptsNeutral for UK stocks
Regency Risk Barometer Snapshot

Yesterday’s price action saw the FTSE daily rolling futures press down into the June swing lows at 6,967, but close back above them.

This morning’s pre-open price action has already breached yesterday’s lows and taken the FTSE down into the major long-term support level created by the March spike lows.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Avingtrans (AVG)
Blan Tech Grp (BLTG)
Interim Results
Boohoo (BOO)
Skillcast (SKL)
Everyman Media (EMAN)
Intercede (IGP)
Octopus Renew. (ORIT)
Emis (EMIS)
UK Economic Announcements
(00:01) BRC Shop Price Index
International Economic Announcements
(07:00) GFK Consumer Confidence (GER)
(12:00) MBA Mortgage Applications (US)
(13:30) Gross Domestic Product (US)
(13:30) Wholesales Inventories (US)
(13:30) Balance of Trade (US)
(15:00) Pending Homes Sales (US)
(15:30) Crude Oil Inventories (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.