BetOnMarkets Morning Report

Please find below the Morning Report from David Evans, market analyst at BetOnMarkets.com

The FTSE is currently indicating a slightly lower opening, as traders have no UK economic data to help them move the market. In Europe on the other hand, traders will be all ears when the ECB announces its latest interest rate decision. Analysts are expecting a 50 basis point cut; however it would not surprise me if the ECB cut an extra 25 basis points to help stimulate the stagnant economy. An interest rate cut usually benefits the equity markets so look for a nice jump in the European markets today.

Oil tumbled yesterday after a government report showed slowing demand sent U.S. stockpiles soaring to a 16-month high. Fuel demand fell 6 percent, the largest one-week decline in almost five years, as the Federal Reserve reported the U.S. economy weakened further in the past month. Oil prices should stabilize around the 35 dollars per barrel level for the near term.


Predicted opens as of 06:00 GMT
FTSE: 4156.3 (-19.2)
CAC40 3030.50 (-18.80)
DAX30 4407.2 (-18.3)
DOW: 8154 (-43)
SP500 834.98 (-7.50)
Gold: 809.15 (-3.20)
Oil: 36.54 (-0.70)

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