Morning Call by Traders University

Britain’s FTSE 100 index is seen opening 21 to 28 points higher on Thursday, according to financial bookmakers, ending a two-day losing run as U.S. and Asian stocks gained. The UK benchmark closed down 11.21 points at 3,900 on Wednesday. It is down 12 percent this year but remains about 12.7 percent higher than its low, hit on March 9. Amidst the downtrend of the economy, retailers are one of the better performers among FTSE 350 sub sectors this year, On the economic front, UK retail sales data is due out at 0930 GMT. The U.S. government will propose tough new financial rules on Thursday as part of its measure to revive the economy and prevent excessive risk-taking that nearly wrecked its banks and set off a world financial crisis.Wall Street managed a moderate gain Wednesday after an attack of nerves had investors
giving back a big early advance and then barreling back into the market right before the
close. Opening the day at 7659.81 and closing at 7749.81. The day shows how fragile Wall Street remains despite a two-week rally.
The market was pulled in different directions by both good and bad news on the economy
that led to choppy trading which may well be the pattern for stocks going forward. In Forex news, yesterday saw better than expected figures released in the US with Core Durable Goods Orders and New Home Sales surprising the market. Today at 9.30am GBP Retails Sales m/m are due for release which is expected to reduce to -0.3% highlighting the tough retail conditions. Then at 12.30pm the USD Unemployment Claims and then also the Final GDP q/q are due. Both are expected to confirm a dour outlook for the US economy.