New Financial Website. Try it Now!

Friday, August 8, 2008

BetOnMarkets Morning Update

The FTSE is currently trading flat as traders are looking past Friday and towards the weekend, and who can blame them this has been a long and risk filled week. While there is no economic data out of the UK this morning, it seems like traders are embracing the reversal in the currency market that has been pushing the British Pound lower, making the FTSE an attractive investment to the US investors.

Oil seems to find a nice level of support before the 115$ per barrel mark, in fact some traders are talking about a technical rebound to the 125 level, which is being postponed due to the strength of the US dollar. Most commodities are going to suffer while the US dollar gains strength mainly due to the fact that those commodities are priced in US dollars