Please find below the Morning Report from David Evans, market analyst at BetOnMarkets.com
The FTSE is currently indicating a lower opening, as traders await for the Bank of England interest rate decision. While traders expect the BOE to cut 50 basis points, there are some who are hoping for a larger cut. Any cut will send the interest rate to its lowest levels since the creation of the bank. The FTSE could greatly benefit from a bigger then expected rate cut.
Oil prices took a hit yesterday, after the inventory numbers reviled that falling consumption led to a bigger-than-expected gains in supplies of crude, gasoline and distillate fuel. The price of oil is likely to trend back down towards the 40 dollars per barrel level.
Predicted opens as of 06:00 GMT
FTSE:4666.2(-28.6) CAC40:3316.20(-19.10)
DAX30 4916.6 (-15.2)
DOW:8787(+7) SP500:908.78(+1.00) Gold:844.95(+6.30) Oil: 42.44 (-0.20)
Contacts:
Dave Evans: 0208 977 8381/Dave@regentmarkets.com
MichaelWright: 00356 21316105/Michael@regentmarkets.com
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 GBP1 to GBP25,000.
