New Financial Website. Try it Now!

Thursday, July 31, 2008

BetOnMarkets Morning Update

The FTSE is currently indicating a sharply lower opening, while traders are awaiting the release of the Manufacturing Purchasing index. Analysts are expecting another decline this month, as the economy has been suffering from high energy prices and the squeeze from not being able to pass all the costs to the consumer. Look for the manufacturing sector to be trading in the red this morning.

Gold will be receiving plenty of attention this morning, especially at 14.30GMT when US releases its employment numbers, traders are expecting a seventh straight month of job losses, and if the unemployment rate comes out worse then expected look for gold to jump possibly hitting the 925 dollar mark before the end of the day.