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6th Jul 2022. 7.45am

Regency View:

Morning Report – Wednesday 6th July

FTSE to open at 7,090 (+65 pts)

A raft of resignations from Boris Johnson’s front bench, including Chancellor Rishi Sunak, prompted a sharp sell-off in UK stocks yesterday.

All eyes will be on Prime Minister’s Questions at noon today as Boris Johnson attempts to save his leadership.

Overnight in Asia, stocks in Hong Kong and Japan have dropped following a strong surge in the US dollar yesterday.

S&P 500+0.16%Neutral for UK stocks
Hang Seng-2.33%Bearish for UK stocks
Gold+0.11%Neutral for UK stocks
AUD/JPY-0.45%Bearish for UK stocks
US 10yr Yield-116ptsBullish for UK stocks
Regency Risk Barometer Snapshot

?Risk Barometer Explained

The FTSE sold off throughout yesterday’s session – breaking below the swing support area that we had previously highlighted.

With political instability likely to escalate into the weekend, it’s likely the FTSE will retest its June lows.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
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This research is prepared for general information only and should not be construed as any form of investment advice.