New Financial Website. Try it Now!

Wednesday, September 10, 2008

BetOnMarkets Morning Report

The FTSE is currently indicates a weaker opening as traders await the release of the UK trade balance numbers. While the weekend nationalization of Freddie Mac and Fannie Mae in the US gave the FTSE and every other equities index a boost on Monday, it was very short lived, as the FTSE finds itself exactly where it was last Friday. It seems like traders are not satisfied with the take over and are worried that nothing changed in the mortgage debt market.

Oil keeps taking in on the chin as it seems like every hurricane starts to weaken before hitting the important oil producing fields. Not helping is the stronger US dollar which keeps making the oil contracts cheaper.
It is possible that we can see prices below 100 dollars per barrel this month.