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BetOnMarkets Morning report

Discussion in 'Market Predictions and Reports' started by Erik, May 12, 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 currently indicates a weak open as traders are waiting for the release of Britains Industrial production numbers. While analysts are expecting a reading of -1.0% some traders are worried that the number will be worse then that. The FTSE is likely to open in the red.
    Oil is down for a second day as the drop in equities signaled the global economy and fuel consumption may not recover anytime soon, pushing crude stockpiles higher. Crude followed equity markets lower, reversing gains made last week after the U.S. economy lost fewer jobs than expected. There is a risk that oil prices will retest the 55 dollars per barrel mark before the end of the week.
    With oil prices risking a retreat, I feel that bets on the weakness of the Canadian dollar bring the best value. A 20 day one touch with a 1.1800 trigger pays 33% ROI.

    Predicted opens as of 06:00 GMT
    FTSE: 4409.3 (-19.7)
    CAC40 3225.60 (-20.20)
    DAX30 4844.7 (-18.3)
    DOW: 8411 (-12)
    SP500 906.98 (-5.00)
    Gold: 913.00 (-0.65)
    Oil: 58.23 (-0.22)



    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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