The FTSE is currently indicating a slightly higher opening, as traders are wondering if the US equities rally yesterday will translate in gains on this side of the ocean. With all the major indices indicating higher openings and crude oil trading lower, the FTSE could spend the whole day in the green, a perfect present before the weekend.

Commodities continue to suffer as oil is trading below the 114 dollar per barrel level, and gold finds itself trading less the 800 dollars for the first time in 2008. Again most of this selloff is attributed to the strength of the US dollar, as traders are wondering if the US economy is about to turn the corner and escape the stagnant growth that been plaguing it for the last 2 quarters. We expect the sell off in both crude and gold to continue, with oil possible touching 110 before trading is halted for the week.

Predicted opens as of 06:00 GMT

FTSE: 5503.6 (+9.3)
CAC: 4436.2 (+18.7)
DAX 6454.4 (+9.9)
DOW: 11639(+19)
S&P 500: 1295.63 (+2.51)
Gold: 795.2 (-15.35)
Oil: 113.72 (-1.27)

Contacts:

Dave Evans: 0208 977 8381/ Dave@regentmarkets.com
Michael Wright: 00 356 21316105 / Michael@regentmarkets.com

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