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BetOnMarkets Morning report

Discussion in 'Market Predictions and Reports' started by Erik, Jan 14, 2009.

  1. Erik

    Erik BetOnMarkets Representative

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    Please find below the Morning Report from David Evans, market analyst at BetOnMarkets.com

    The FTSE is currently indicating a higher opening, as traders are hoping that better then expected US retail sales numbers will show a strengthening economy, and boost retail stocks around the world. While analysts are expecting a contraction of 1.4% there are speculations that the number will come out stronger then expected. Should this happen, we could see the FTSE get a nice boost.

    Oil prices bounced from its recent lows as OPEC leaders signaled their intention to make deeper supply cuts to bolster prices. Oil ministers from the Organization of Petroleum Exporting Countries agreed in Oran, Algeria, to cut supply by 9 percent to 24.845 million barrels a day starting Jan. 1st. We should see some movement after the inventory numbers are released, with a strong possibility of a retest of the 35 dollars per barrel level.

    Predicted opens as of 06:00 GMT
    FTSE: 4415.6 (+42.6)
    CAC40 3208.20 (+13.90)
    DAX30 4664.8 (+32.5)
    DOW: 8506 (+66)
    SP500 877.48 (+6.00)
    Gold: 824.70 (+4.00)
    Oil: 38.79 (+0.92)


    BetOnMarkets.com is the worlds leading fixed odds financial trading website. Since inception in 2000 it has processed over 15 million trades on financial indices, UK and US equities, gold and currencies. Over 130,000 clients have the ability to place trades from 1 to 25,000 GBP.


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