Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.

5th May 2021. 7.47am

Regency View:

Morning Report – Wednesday 5th May

FTSE to open at 6,955 (+32 pts)

Comments from US Treasury secretary Janet Yellen yesterday’s sent tech stocks lower…

The former Federal Reserve chair warned that “interest rates will have to rise somewhat to make sure that our economy doesn’t overheat”. The comments were made in relation to President Biden’s proposed $2 trillion spending package outlined last month.

Asian stocks have continued yesterday’s weakness, and whilst European futures have bounced from yesterday evening’s lows, risk aversion appears to be growing.

S&P 500-0.67%Bearish for UK stocks
Hang Seng-0.51%Bearish for UK stocks
Gold-0.08%Neutral for UK stocks
AUD/JPY+0.28%Bullish for UK stocks
US 10yr Yield+0.33%Neutral for UK stocks
Regency Risk Barometer Snapshot

We mentioned in yesterday’s morning report that “we would expect to see volatility increase as the market battles to break resistance”, and that’s exactly what we got yesterday.

The FTSE futures printed their largest daily range since the mid-April sell-off, with prices touching swing resistance early in the session only to sell-off and break below the small ascending trendline which had been forming during the last fortnight.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Wandisco (WAND)
Cambria Auto (CAMB)
Smiths News (SNWS)
Virgin Money UK (VMUK)
Q1 Results
Amryt Pharma (AMYT)
Trading Announcements
Direct Line (DLG)
Smith & Nephew (SN.)
International Economic Announcements
(08:55) PMI Services (GER)
(08:55) PMI Composite (GER)
(09:00) PMI Composite (EU)
(09:00) PMI Services (EU)
(10:00) Producer Price Index (EU)
(12:00) MBA Mortgage Applications (US)
(14:45) PMI Composite (US)
(14:45) PMI Services (US)
(15:00) ISM Services (US)
(15:00) ISM Prices Paid (US)
(15:30) Crude Oil Inventories (US)
Today’s Financial Diary

Don’t have a Regency account yet?

Start receiving our actionable Market Alerts and Analysis with real-time email and SMS alerts throughout your trading day. Simply click below to create your account for free.

Create Account

Any Questions? Please feel free to call 0203 973 8007 or email us at info@regency.capital


This research is prepared for general information only and should not be construed as any form of investment advice.