The FTSE is currently indicating a slightly stronger opening, as traders are finally able to take their eyes off the US markets for the next couple of days and just focus on UK fundamentals. Based on GDP news released yesterday, UK is entering a recession and analysts are looking to the government on hints of a how they plan to get the British economy back on track. There is a very strong chance that the FTSE will experience a low volume day.
Oil falls weaker this morning, as concerns over lower demand intensify. OPEC has yet to react, but is rumored to cut production again at next months meeting. The only question is, will they cut enough to actually make a difference? Most analysts are betting that they will not. With that being said, look for oil to trade in a tight range today due to the American Thanksgiving.
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