Betonmarkets.com Morning Report (18th August 08)

Please find below the Morning Report from David Evans, market analyst at BetOnMarkets.com

The FTSE is currently indicating a flat open as traders try to understand the fallout from the unexpected Rightmove house prices. The data that was released Sunday night showed that house prices fell almost 5% over the year. Because of this negative news it could possibly send the FTSE lower Monday morning when the market opens for trading.

Gold took it on the chin with traders bidding below 800 dollars for the first time in more then a year. Strength in the US dollar has caused all US priced commodities to lose value. We believe that this trend will continue for another couple of weeks. Oil is in danger of falling below 110, while there might be some support at that level, its possible for oil to finish the week below 110 dollars per barrel. Fighting the downtrend can be a costly battle.

Predicted opens as of 06:00 GMT

FTSE 5450.2 (-2.8)
Dow Jones 11641 (-16)
Brent Crude 113.95 (+1.51)
Gold 798 (+11.2)

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

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