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BetOnMarkets Morning report

Discussion in 'Market Predictions and Reports' started by Erik, Feb 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 higher opening, as traders are covering their short positions ahead of this weeks UK GDP numbers. Most traders are protecting their profits in case the number comes out better then expected. The FTSE will likely have an increase in volume over the next few days.

    Crude oil traded near $40 a barrel as traders weighed the risk of a deepening global recession against government measures to revive economic growth. However it seems like traders are betting on the recovery as speculative long positions, or bets prices will rise, outnumbered short positions by 45,016 contracts on the New York Mercantile Exchange last week. Oil prices will probably stay near the 40 dollars per barrel level today.

    Predicted opens as of 06:00 GMT
    FTSE: 3915.8 (+30.8)
    CAC40 2778.40 (+31.60)
    DAX30 4043.9 (+1.4)
    DOW: 7430 (+60)
    SP500 790.03 (+7.50)
    Gold: 987.65 (-4.78)
    Oil: 40.25 (+0.36)




    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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