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Tuesday, November 18, 2008

BetOnMarkets Morning Report

The FTSE currently indicates a flat opening as traders stay on the fence until the UK CPI numbers are released. While some analysts believe that the CPI will show a smaller increase then before, after further research we believe that the CPI will come out much hotter then expected. This could put the next interest rate cut in jeopardy. If the CPI numbers come out worse then expected watch for the stocks to tumble especially the financials.

Oil fell almost 3 percent yesterday, as continued concern over the global slowdown continues. Analysts are no longer wondering if we are in a recession, the question now is how long and how painful will this economic contraction be. With the slew of economic news this week, we might see oil finally break the 50 dollars per barrel mark.