Morning Call by Greg Secker

Yesterday the FTSE ended the day up 47 points at 4,169 having been dragged aloft in the final two hours of trading by the Dow’s upward surge of 300 points from that index's low. Today with the Bank of England Base Rate Decision released at noon, and with the expectation widely touted as a 1 % cut, look to this time for activity potentially giving the impetus for the break of the 4,200 level. In addition the European Central Bank’s decision out just 45 minutes later also has the expectation of a significant cut of 0.5%. In America yesterday, the Dow rose by 172 points from Tuesday’s close, largely on record mortgage applications, to finish the session at 8,591. Today with a raft of low level news out from 1.30 pm onwards look for further volatility ahead of tomorrow’s non farm payroll figures. Oil is currently trading at $46.87 and Gold is at $774.70. That’s it for now good trading and I will speak with you tomorrow.