Morning Call by Greg Secker

August 2006 was the last time we saw the Dow Jones industrial average reach this low and then it was passing through that point forging upward. So having opened slightly up on the previous day’s close the day ended over 80 points higher by the session end. The release of the Bank of England interest rate could not have been pinpointed on this index however a lethargic trail upward from the break of the news of 50 points, could have been capitalised on. Today movement could well be more distinct as US Trade Balance Figures are released today at 1.30pm (British Summer Time) and look for more divergent fluctuation as profit taking on weekly moves occurs by market makers towards the end of the session. The FTSE was down 122 points at 5406 but the response move over Interest Rates was muted due to the level of certainty that “no change” would be the outcome. Today with the US news affecting this index too and the end of week movements a smaller than forecast trade gap from America could see a higher end to the week. Gold is currently trading at $944.300 and Oil at $142.22. Next week we have various GB Price Index reports to look forward to from both the UK and US and also Housing Starts in the US. Have a great day Trading and a great weekend!