The FTSE is currently indicating a flat open, as traders have no data on
which to base their next move. Some analysts are looking towards the EU
employment numbers, to see how the neighbors economy is doing. The FTSE is
likely to start the week in the green. Oil is down on speculation its
dollar-driven rally to a seven-month high last week outpaced prospects for a
recovery in fuel demand. Concerns that today a report in the U.S., the
world??s largest oil consumer, may show manufacturing contracted for a 14th
month. It seems like oil prices might take a breather around the 74 dollars
per barrel level. It seems like the Pound is currently forming a head and
shoulders pattern, with support coming in around the 1.5700 level. A 15 day
no touch on the GBP/USD with a trigger at 1.5725 pays 19% ROI.
Predicted opens as of 06:00 GMT
FTSE: 4438 (-1.5)
CAC40 3330.6 (+8.3)
DAX30 5063.5 (+1.7)
DOW: 8744 (-58)
SP500 940.03 (-4.75)
Gold: 937.65 (-1.60)
Oil: 71.38 (-0.62)
Morning Report from David Evans, market analyst at
www.BetOnMarkets.com
