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Tuesday, July 15, 2008

BetOnMarkets Morning Update - 16/07/08

The FTSE is currently trading higher, a sign that traders are expecting better then expected economic data out of the UK. Just before the FTSE opens the Office for National Statistics will release the British employment data for June. A better then expected employment number would throw cold water on the notion that the UK is in an economical slowdown.

Gold continues to ride the wave of the weak dollar, as the yellow metal traded at 972 dollars per ounce. Traders are exciting the greenback in droves pushing the Euro north of 1.60 while the Pound is trading above the 2.00. Oil was actually a loser yesterday, however today the Department of Energy is releasing its inventory numbers, so we are expecting for a volatile trading day.