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BetOnMarkets Morning report

Discussion in 'Market Predictions and Reports' started by Erik, Mar 27, 2009.

  1. Erik

    Erik BetOnMarkets Representative

    Jul 23, 2008
    Likes Received:
    Please find below the Afternoon Report from David Evans, market analyst
    at BetOnMarkets.com

    After a week of gains, markets across the world have hit reverse gear in
    the final trading session of the week. At current levels, it still looks
    as though it will be a positive week for equities which is encouraging
    considering the fact that the economic news flow continues to be bleak.

    Ironically it is the financial sector that is providing some stability
    within the FTSE today with the momentum still behind a resurgent
    Barclays. Lloyds is up around 9% while HSBC and RBS are largely
    unchanged on the day. It is commodities that weighing most heavily on
    markets today with oil dropping around $1.50, erasing most of the gains
    made earlier in the week.

    Aside from economic factors, President Obama's fuel efficiency plans
    appear to have hit crude and gasoline prices. Amongst other things,
    Obama has set a minimum requirement of 30.2 miles per gallon for
    passenger cars. The annual vehicle distance travelled by US drivers was
    increasing at an almost parabolic rate until 2008 when the total vehicle
    miles travelled dropped by 3.7% year on year. A continuation of this
    trend and government support for great fuel efficiency could put further
    pressure on crude's nascent recovery.

    On the currency markets, the euro has been punished against the yen,
    dollar and even the pound as fears over the European economy intensify.
    Rumours of the ECB planning to follow the MPC and FOMC in quantitative
    easing have also hit the currency.

    BetOnMarkets.com is the world's 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


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