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BetOnMarkets Morning report

Discussion in 'Market Predictions and Reports' started by Erik, Jan 23, 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 flat open, as traders are waiting for the release of the UK GDP numbers. While analysts are expecting a contraction of 1.2%, there is a serious threat that the number will come out much worse. Also being released tomorrow is the UK retail sales report. Everyone is interested to see if consumers spent money during the all important Christmas shopping season. Look for the FTSE retail sector to react strongly to the retail numbers.


    Crude oil fell after U.S. stockpiles rose more than four times forecast last week, raising concern of an oversupply as the global recession is getting worse. Oil continues to trade in a contango, which indicates there is an oversupply. OPEC has been trying to address the issue by cutting production but so far little has helped. Oil should finish out the week near the 40 dollars per barrel level.


    Predicted opens as of 06:00 GMT
    FTSE: 4039.1 (-3.2)
    CAC40 2887.40 (+23.40)
    DAX30 4235.7 (+12.70)
    DOW: 8102 (-16)
    SP500 825.10 (-3.63)
    Gold: 857.70 (-2.70)
    Oil: 43.00 (-0.64)



    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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