Please find below the Morning Report from David Evans, market analyst at BetOnMarkets.com
The FTSE currently indicates a stronger open, as rumours that todays US
GDP numbers might be stronger then expected has traders ready to press the buy button. Analysts are expecting for a reading of -4.7% however some traders are now only pricing in a -4% loss. Just a warning, that should the number come out as expected, look for the markets around the world to take a dive.
Crude oil is trading around the 49 dollars per barrel mark on concern that fuel demand will drop as the swine-flu outbreak causes delays in the recovery from the global recession. The U.S. Energy Departments supply report will be out later today, which may show another buildup, which can cause oil prices to test the 45 dollar per barrel mark.
With there being a risk for oil prices to fall, we can expect the USD/CAD to follow so a no touch on the USD/CAD for 14 days with a
trigger at the 1.1900 level pays 68% ROI.
Predicted opens as of 06:00 GMT
FTSE: 4112.6 (+23.8)
CAC40 3060.70 (+12.70)
DAX30 4616.9 (+8.4)
DOW: 8056 (+45)
SP500 858.98 (+4.75)
Gold: 892.70 (-1.65)
Oil: 49.47 (-0.32)
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BetOnMarkets Morning report -
04-29-2009, 06:51 AM
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