Britain’s FTSE 100 tumbled 135 points to close at 3762 on Monday. According to financial bookmakers, the
index is seen opening 16-25 points higher on Tuesday, clawing back some of the previous session’s sharp losses as crude prices bounced and traded near $49 a barrel. A survey showed British consumers grew less gloomy in March as lower mortgage repayments increased disposable income. In Asia, Japanese unemployment rose to a three-year high in February underlining government urgency to come up with fresh stimulus for the world’s second-largest economy.
In Wall Street, stocks tumble on renewed fears of the strength of the banking and auto sectors; General Motors CEO Rick Wagoner forced to resign as a codition of receiving new bailout funding from the government; and Netflix raises its rental rates for Blu-Ray customers.
Forex News: 10am - Euro CPI Flash estimated @ 0.7%, previous @ 1.2%
At 1:30pm we have Canadian news GDP month on month forecasted better than previous @ 0.6%
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