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 Britains Industrial production numbers. While analysts are expecting a reading of -1.0% some traders are worried that the number will be worse then that. The FTSE is likely to open in the red.
Oil is down for a second day as the drop in equities signaled the global economy and fuel consumption may not recover anytime soon, pushing crude stockpiles higher. Crude followed equity markets lower, reversing gains made last week after the U.S. economy lost fewer jobs than expected. There is a risk that oil prices will retest the 55 dollars per barrel mark before the end of the week.
With oil prices risking a retreat, I feel that bets on the weakness of the Canadian dollar bring the best value. A 20 day one touch with a 1.1800
trigger pays 33% ROI.
Predicted opens as of 06:00 GMT
FTSE: 4409.3 (-19.7)
CAC40 3225.60 (-20.20)
DAX30 4844.7 (-18.3)
DOW: 8411 (-12)
SP500 906.98 (-5.00)
Gold: 913.00 (-0.65)
Oil: 58.23 (-0.22)
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BetOnMarkets Morning report -
05-12-2009, 06:36 AM
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