FTSE 100 Index Looking Stronger

Calendar April 29, 2009 | Posted by Robert

The FTSE 100 currently indicates a stronger open, as rumours that today’s US GDP numbers might be better then expected has traders ready to press the buy button.

Analysts are expecting for a reading of -4.7% however some traders are now only pricing in a -4% loss.

Just a warning, that should the number come out as expected, look for the markets around the world to take a dive.

Crude oil is trading around the $49 mark on concern that fuel demand will drop as the swine-flu outbreak causes delays in the recovery from the global recession.

The US Energy Department’s supply report will be out later today, which may show another build up, which can cause oil prices to test the 45 dollar per barrel mark.

Possible Fixed Odds USD/CAD Trade

With there being a risk for oil prices to fall, we can expect the USD/CAD to follow so a no touch on the USD/CAD for 14 days with a trigger at the 1.1900 level pays 68% ROI.

The above comments do not constitute investment advice and neither BetOnMarkets nor SpreadBets.org.uk accept any responsibility for any use that may be made of them.

Predicted market opens as of 06:00 BST:

FTSE 100: 4112.6 (+23.8)
CAC40 3060.70 (+12.70)
DAX30 4616.9 (+8.4)
DOW: 8056 (+45)
S+P 500 858.98 (+4.75)
Gold: 892.70 (-1.65)
Oil: 49.47 (-0.32)

By David Evans of BetOnMarkets Account.

Category Categories: Financial Markets | Tag Tags: | Comments No Comments »