BetOnMarkets Morning Report

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

The FTSE is currently indicating a higher opening, continuing a rally that started in this morning in Asia. While there is no UK economic news today, there will be plenty from the North American side of the ocean to keep things interesting. We will get a glimpse at the US inflation numbers with the release of the CPI report at 13.30GMT and consumer confidence at 15.00 GMT. The FTSE will more then likely close out the week on a positive note.

Oil is set for the biggest weekly decline in a month, after OPEC announced that demand will drop this year amid a global recession. The organization cut its global demand estimate by another 20,000 barrels per day. The March futures contract is trading at 43.21 per barrel, there is a chance that oil will end the day closer to the 40 dollar level.

Predicted opens as of 06:00 GMT
FTSE: 4183 (+71.2)
CAC40 3047.60 (+52.30)
DAX30 4413.7 (+89.2)
DOW: 8259 (+46)
SP500 847.73 (+4.50)
Gold: 819.75 (+1.45)
Oil: 43.19 (+7.78)

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