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3rd Aug 2022. 7.46am

Regency View:

Morning Report – Wednesday 3rd August

FTSE to open at 7,407 (-2 pts)

US stocks moved lower yesterday and Treasury yields moved higher as several Fed officials signaled the US central bank was committed to its aggressive fight against inflation.

Overnight in Asia, stocks recovered some of yesterday’s losses as fears over the fallout from Nancy Pelosi’s visit to Taiwan appeared to subside slightly.

Looking ahead today, we have a cluster of PMI’s from the UK, Europe and US which should give some indication of the severity of the global slowdown.

S&P 500-0.67%Bearish for UK stocks
Hang Seng+0.39%Bullish for UK stocks
Gold+0.40%Bearish for UK stocks
AUD/JPY+0.26%Bullish for UK stocks
US 10yr Yield+176ptsBearish for UK stocks
Regency Risk Barometer Snapshot

We mentioned in yesterday’s Morning Report that the broken resistance area at 7,361 should provide some support and we’ve started to see some evidence of that…

Yesterday’s range was the smallest in over seven sessions, indicating that volatility is starting to contract as prices find support.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Van Elle (VANL)
Interim Results
Taylor Wimpey (TW.)
Ferrexpo (FXPO)
Lsl Prop (LSL)
Endeavour Min (EDV)
Ip Group (IPO)
Just Eat Takeaw (JET)
Hill & Smith (HILS)
European Assets Trust (EAT)
UK Economic Announcements
(09:30) PMI Services
(09:30) PMI Composite
International Economic Announcements
(08:55) PMI Composite (GER)
(08:55) PMI Services (GER)
(09:00) PMI Services (EU)
(09:00) PMI Composite (EU)
(10:00) Producer Price Index (EU)
(10:00) Retail Sales (EU)
(12:00) MBA Mortgage Applications (US)
(14:45) PMI Composite (US)
(14:45) PMI Services (US)
(15:00) Factory Orders (US)
(15:00) ISM Prices Paid (US)
(15:00) ISM Services (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.