The FTSE is currently indicating a higher open as UK and the European markets are following in the steps of the North American equity markets higher close. Friday is an economically quiet day in UK, however there is some European Union news to keep an eye on. At 6am GMT the German inflation will be released, as one of the biggest economies in the EU, this will influence the trading mood in Europe, and UK. On an off note, today is triple witching Friday, when most hedge fund traders roll over their positions to the next month, this tends to be an equity positive move.
Oil fell for the second day in a row dipping below 132 dollars per barrel. Slow down in the economy around the world, and an increase in output in Saudi Arabia is lowering the risk premium which is priced in the cost of every barrel. Gold was a winner again yesterday, and is being pushed higher, again on the back of a weak US dollar. Since there is no economic news out of US today, its a safe bet that the weak dollar theme will continue into the weekend. Gold could finish the week higher then 905 dollars per ounce.
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