BetOnMarkets.com Morning Report

The FTSE is currently indicating a flat open, as traders are waiting for the release of the UK Purchasing index for Manufacturing. Analysts are expecting an improvement over last months reading of 45.4, which could signal that there is optimism for a recovery in the manufacturing sector.

Crude oil tumbled from an eight- month high as U.S. consumer confidence declined in June, indicating lower fuel demand. The economy in UK shrank the most since 1958, after the final GDP reading showed worsening conditions. Oil prices are likely to continue to trade around the 70 dollar level, as traders are worried that the economy has not hit bottom.

Trade Of The Day

The GBP/JPY got rejected just above the 160.00 level, however todays inside candle suggests another run at the resistance. A 2 day one touch on the GBP/JPY with a trigger at 160.00 pays 41% ROI.






Predicted opens as of 06:00 GMT:

FTSE: 4257.3 (+12.5)
CAC40: 3144.1 (+9.8)
DAX30: 4816.4 (+5.6)
DOW: 8445 (-3)
SP500: 918.73 (-1.75)
GOLD: 928.00 (-0.20)
OIL: (+0.53)