Please find below the Morning Report from David Evans, market analyst at www.BetOnMarkets.com
The FTSE is currently indicating a weak open, as traders are waiting for the release of UK Consumer Credit. Analysts are paying a special interest to this number, as an increase in consumer credit means that people are feeling optimistic regarding the economy and are starting to spend more. The FTSE will probably start the day in the red.
Crude oil rose to the highest level since November yesterday as the manufacturing sector in China shows traces of a recovery and the U.S. industrial output shrank less than forecast, signaling that fuel demand may increase. There is a risk that oil prices will test the 70 dollars per barrel level.
A 10 day bull bet on the GBP/USD with a trigger at 1.6000 pays 13% ROI.
Predicted opens as of 06:00 GMT
FTSE: 4486.5 (-17.0)
CAC40 3348.1 (-17.2)
DAX30 5111.5 (-18.5)
DOW: 8693 (-37)
SP500 939.18 (-0.75)
Gold: 976.75 (+0.75)
Oil: 67.96 (-0.56)