The FTSE currently indicates a flat open, as there is no economic data to help the traders determine where the FTSE is headed next. Today's trading could be influenced by the data that is released in Europe and US, especially the European consumer confidence report. Look for a quiet day, as most traders are going to be taking off early to enjoy the last weekend of summer.
Oil traders felt like they just took a rollercoaster ride yesterday. Oil finished down almost 3 dollars per barrel and at one point was trading below the 115 dollar mark. We suggest for traders to stay out of the oil market until after the weekend, as hurricane Gustav is unpredictable.
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