Morning Call by Greg Secker

Yesterday the FTSE lost 202 points to close down at 4,005, The Bank of England minutes release had little effect as nothing that wasn’t already suspected, was revealed or indicated. A further cut in rates is likely, come the 4th of December. Today with Retail Sales figures out at 9.30 am GMT look for early strength and then the break of the 4,000 level for further decisive downward directional movement, should the news be worse than expected. In America yesterday, the Dow Jones fell 427 points to breach the 8,000 level finishing at 7,997. Today, as with the FTSE, look for early strength followed by continued volatility towards the end of the week. With little scheduled market making news to end the week component news and further global economic negativity will be driving this market. Oil is currently trading at $52.96 and Gold is at $733.80. That’s it for now good trading I will speak with you tomorrow.