Please find below the Morning Report from David Evans, market analyst at BetOnMarkets.com
The FTSE is currently indicating a higher opening, as traders seem enthusiastic about economy after better then expected Rightmove house prices. Some traders are excited about Tuesdays CPI numbers, as rumors indicate that the data will be better then expected. It is Martin Luther King Day in US; as a result all banks and exchanges are closed. The FTSE will probably start the week in positive territory.
Crude oil fell after the latest forecast showed that faltering global economic growth will drive down fuel demand for a second year. As a result OPEC will probably introduce another round of production cuts at the March 15th meeting. The goal for the organization is to keep oil above the 60 dollar per barrel level. Oil will most likely stay under the 42 dollar level until the next inventory announcement on Thursday this week due to the Monday holiday.
Predicted opens as of 06:00 GMT
FTSE: 4206.1 (+63.6)
CAC40 3040.70 (+26.90)
DAX30 4398.2 (+29.9)
DOW: 8361 (+94)
SP500 859.23 (+7.00)
Gold: 837.35 (-4.45)
Oil: 42.16 (-0.27)
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