The FTSE currently indicates a flat opening, as traders await the release of the UK Industrial and Manufacturing production numbers. While analysts expect flat growth for the month of July, we feel that the number is a little optimistic resulting in the market possibly opening lower this morning.
Oil prices are trading lower, as another hurricane is slated to miss the key oil producing fields. Adding to the lower oil price is the resurgence in the strength of the US dollar, which traded at an 11 month high versus the Euro. We might see the Euro trade as low as 1.35 per US dollar this month.
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