BetOnMarkets Morning report

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

The FTSE is currently indicating a lower opening, as traders wait for the latest interest rate decision by the Bank of England. While it is widely expected for the BOE to cut interest rates by 50 basis points, everyone will be paying attention to the statement that comes out with the announcement to see if this is the last rate cut or not. Where the FTSE opens on Thursday will greatly depend on that statement.

Oil prices fell after a government report showed that U.S. inventories of the fuel jumped more than twice the amount analysts forecast. The increase last week left stockpiles 15 percent higher than the five-year average for the period, which should press OPEC to cut supplies at its next meeting. Look for oil prices to trade around the 40 dollars per barrel level until Fridays US employment data.

Predicted opens as of 06:00 GMT
FTSE: 4180.8 (-44.7)
CAC40 3016 (-49.50)
DAX30 4423.5 (-57.5)
DOW: 7955 (+5)
SP500 829.73 (-2.25)
Gold: 904.05 (+0.35)
Oil: 40.29 (+0.01)



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