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BetOnMarkets Morning report -
05-06-2009, 06:56 AM
Wed May 6 06:10:06 2009
Please find below the Morning Report from David Evans, market analyst at BetOnMarkets.com
The FTSE currently indicates a weak open as traders are waiting for the release of the HBOS house prices. Analysts are hoping that a rebound in home prices will signal relief for homeowners who are struggling with high unemployment, inflation and falling home prices. A better then expected HBOS number will help the FTSE open in the green.
Crude oil is trading just under the 54 dollars per barrel mark on concern that the Federal Reserve stress tests on U.S. banks may show some companies need additional capital amid the global recession. Oil will probably trade in a range until the release of the DOE inventory numbers.
With the rumors that banks might need more capital, the US dollar might be weaker against the Euro. A 26 day bull bet, that the Euro/USD will be higher then 1.3000 pays 31%.
Predicted opens as of 06:00 GMT
FTSE: 4308.2 (-23.1)
CAC40 3213.20 (-4.60)
DAX30 4828.4 (-21.1)
DOW: 8334 (-73)
SP500 894.48 (-11.50)
Gold: 898.85 (+1.35)
Oil: 53.82 (+0.08)
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