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7th Sep 2022. 7.42am

Regency View:

Morning Report – Wednesday 7th September

FTSE to open at 7,252 (-48 pts)

Stocks on Wall Street moved lower yesterday with US Treasury yields surging higher as upbeat data sharpened Fed rate rise fears…

The Institute for Supply Management survey showed that US services activity had outpaced economists’ expectations – registering a reading of 56.9 in August compared with 55.1 expected.

Asian stocks and oil prices have followed Wall Street lower and US dollar strength weighed on sentiment.

S&P 500-0.41%Bearish for UK stocks
Hang Seng-1.68%Bearish for UK stocks
Gold-0.28%Bullish for UK stocks
AUD/JPY+0.57%Bullish for UK stocks
US 10yr Yield+120ptsBearish for UK stocks
Regency Risk Barometer Snapshot

Yesterday’s price action saw the FTSE give up its early morning gains and drift lower – forming a small bearish pin-bar candle.

We now have a short-term inflection point in place (yesterday’s high) at 7,325 which should create some resistance and we have support at last week’s lows (7,129).

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Interim Results
Equals Gp (EQLS)
Tissue Regenix Group (TRX)
M&C Saatchi (SAA)
Verici Dx (VRCI)
UK Economic Announcements
(07:00) Halifax House Price Index
International Economic Announcements
(07:00) Industrial Production (GER)
(12:00) MBA Mortgage Applications (US)
(10:00) Gross Domestic Product (EU)
(13:30) Balance of Trade (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.