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Wednesday, November 12, 2008

BetOnMarkets Morning Report

The FTSE is currently indicating a higher opening, as traders await the release of the UK employment data for October. While analysts are expecting the unemployment rate to increase, the rate is slowing down so this could be a good sign. The FTSE should stay in the positive unless the employment data comes out worse then expected.

Speculations that the International Energy Agency will cut its demand forecast has plunged oil to a 20-month low. We might see another down day on Wednesday, as there is a possibility that supply inventory has risen for another week. We could actually see oil touch the 55 dollar mark by the end of the day.

Predicted opens as of 06:00 GMT
FTSE: 4319 (+72.13)
CAC40 3386.60 (+51.80)
DAX30 4843.5 (+89)
DOW: 8722 (+44)
SP500 902.90 (+8.37)
Gold: 736.45 (+1.35)
Oil: 59.28 (-0.08)