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Monday, June 2, 2008

Morning Update

The week of economic surprises is upon us, and first up is the US ISM manufacturing numbers, set to be released at 14.00 GMT. Economists are expecting another contracting month, however there seems to be indication that the number will be below expectations. From high oil prices, and even lower economic outlook among business owners the risk for the lower then expected number is strong.

The FTSE is currently indicating a lower open, however since its Monday morning, we are not considering them as very accurate. Commodities were on the weak side last week mainly on the strength of the US dollar; however the party might be ending especially will all the economic news on the calendar.