8th Sep 2021. 7.47am
Morning Report – Wednesday 8th September
FTSE to open at 7,117 (-32 pts)
The S&P 500 retreated from highs yesterday as traders continue to digest Friday’s weak set of non-farm payrolls.
Overnight, sentiment in Asia mirrored yesterday’s weakness on Wall Street as the US dollar strengthened and risk aversion started rise.
However, our Risk Barometer is in relatively neutral territory as we head into European trading.
|S&P 500||-0.34%||Bearish for UK stocks|
|Hang Seng||-0.19%||Bearish for UK stocks|
|Gold||+0.12%||Neutral for UK stocks|
|AUD/JPY||-0.03%||Neutral for UK stocks|
|US 10yr Yield||+2.90%||Bullish for UK stocks|
Yesterday’s price action saw the FTSE fail to break through 7,190 resistance and erase all of Monday’s gains.
The futures have bounced from the ascending trendline (gold dotted line) in early trading, but a retest of last week’s lows at 7,092 looks the most likely scenario for today’s session.
|Impact Health (IHR)|
|Inspecs Group (SPEC)|
|Pebble Beach (PEB)|
|Somero Enter Di (SOM)|
|International Economic Announcements|
|(12:00) MBA Mortgage Applications (US)|
|(15:30) Crude Oil Inventories (US)|
|(20:00) Consumer Credit (US)|
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
This research is prepared for general information only and should not be construed as any form of investment advice.