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Wednesday, January 28, 2009

BetOnMarkets Morning Report

The FTSE is currently indicating higher opening, as traders hope that todays slew of economic data will help shed a positive light on the world economy. While there wont be any UK data today, we will be paying attention to the EU CPI inflation index along with the US interest rate decision this later this afternoon. Should the CPI numbers come out better then expected, the FTSE could get a nice boost.

Commodity prices took a tumble yesterday as the global recession eroded demand for energy, metals and grains. The Energy Department announces the inventory numbers tomorrow, and rumors indicate that stockpiles probably rose again. Look for oil prices to test the 40 dollars per barrel level by the end of the week.

Predicted opens as of 06:00 GMT
FTSE: 4222.1 (+32.3)
CAC40 3024.30 (+73.00)
DAX30 4361.1 (+30.1)
DOW: 8272 (+108)
SP500 858.98 (+17.00)
Gold: 894.95 (-1.95)
Oil: 41.83 (+0.22)