Morning Call by Traders University

Yesterday the FTSE closed down 46 points at 4,140 and the Dow closed up 11 points at 8,178. In Forex news, the recent rally in the dollar and the yen eased a little in late trading yesterday, but with little momentum as strong fears of a renewed global slowdown remain. In overnight news saw the AUD unemployment rate of 5.8%, which was slightly better than expected. All eyes will be on the GBP official rate statement at 12.00 pm with rates expected to remain steady at 0.5%. Further direction on a possible increase in the asset purchasing programme to increase the money supply is also possible. The CAD housing starts is then due at 1.15pm.

Trader's University Daily Update

The DOW pushed higher at the open but ran into some resistance at the 12,300 level where it turned and fell to the close to end the session down 46 points. The S&P closed down 11 points, NASDAQ fell 11 points, and all of the indices have left us with a high test reversal bar for Wednesday. The FTSE 100 jumped at the open but could not hold on to all of the gains falling back to close the session up 86 points. Futures – DOW is called down 120 points, FTSE is called down 100 points. Oil is still push to new highs and is currently trading at $109.57 a barrel, gold is trading at $987.10.

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