BetOnMarkets Morning report

Erik

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

The FTSE currently indicates a very weak open, as traders worry that the worse then expected UK Hometrack housing numbers could set off another selling spree. With almost no economic news being released in UK the rest of the week, the FTSE is likely to be influenced by data from other countries.
Crude oil is trading around the 50 dollars per barrel level on speculation that a slow recovery from the global recession may limit demand. The economy in the U.S., the world's largest oil consumer, may continue to stagnate. In the mean time increased output by non-OPEC producers has left the market oversupplied.
Here is a good value play
With the price of oil likely to fall in the coming days, the USD/CAD is likely to strengthen. A no touch for 7 days on the USD/CAD with a 1.19 trigger pays 34% ROI

Predicted opens as of 06:00 GMT
FTSE: 4125.4 (-45.00)
CAC40 3073.10 (-27.90)
DAX30 4636.0 (-27.50)
DOW: 7995 (-73)
SP500 856.83 (-12.75)
Gold: 915.45 (+3.40)
Oil: 50.59 (-0.94)



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