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BetOnMarkets Morning report

Discussion in 'Market Predictions and Reports' started by Erik, Feb 24, 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 lower opening, as concerns over the upcoming release of the UK GDP numbers intensifies. Analysts are expecting that the numbers which are released on Wednesday will show that the UK economy fell by almost 2%. However there is real concern that with all the negative economic data, the number will be way worse. Traders are currently selling off their profitable positions, which is why the FTSE will probably spend the day in negative territory.

    Crude oil fell for a third day on speculation that U.S. stockpiles increased for the 19th week in 22 as the global recession saps fuel demand. Of an interesting note the high inventories at Cushing have depressed the West Texas price so that Brent crude oil traded in London is at a premium to the U.S. grade. Brent is selling more than $2 a barrel higher than WTI. We expect prices to keep falling until the release of the inventory numbers on Wednesday.

    Predicted opens as of 06:00 GMT
    FTSE: 3787.2 (-61.1)
    CAC40 2687.40 (-40.90)
    DAX30 3886.6 (-47.9)
    DOW: 7146 (+27)
    SP500 749.53 (+2.00)
    Gold: 986.40 (-9.35)
    Oil: 37.99 (-0.44)



    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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