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BetOnMarkets Morning report

Discussion in 'Market Predictions and Reports' started by Erik, Mar 5, 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 traders worry about the statement that will accompany todays interest rate decision. With no cut is expected, traders are concerned that the BOE might actually be done cutting rates. Volumes are likely to be very low until the announcement with will be released at noon GMT.

    Crude oil is trading near $45 per barrel after China announced plans to increase imports of commodities. The world's second-largest oil consumer will boost stockpiles of economically strategic materials. Oil prices were pushed up after the inventory numbers were lower then expected. Oil prices are likely to run into resistance and profit taking around the 48 dollars per barrel level.

    Predicted opens as of 06:00 GMT
    FTSE: 3608.6 (-29.7)
    CAC40 2651.90 (-21.60)
    DAX30 3855.3 (-26.2)
    DOW: 6808 (-67)
    SP500 704.83 (-3.62)
    Gold: 910.80 (+5.25)
    Oil: 45.06 (-0.25)



    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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