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The FTSE currently indicates a flat opening, as traders wait for the release of the US ISM numbers before deciding the tone for the week. This could be a quiet week for the FTSE as there will be no economic data in UK except for the consumer confidence report on Wednesday. We could see a higher opening today if the Euro-Zone retail sales numbers come out better then expected.

Oil traders were burned this week after OPEC decided to surprise everyone by not cutting output during the weekend meeting. Oil dropped below the 55 dollars per barrel mark and it is very likely that crude will be trading below the 50 dollar level by the end of the week.

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The FTSE is indicating a lower opening, as traders await to see the release of the EU employment data. While its not UK data, with the EU being a huge trading partner, a slowdown there could mean harder times for the UK. The way the FTSE opens today is totally dependant on that report.

Oil is on the weaker side of things again, as concerns that OPEC will not cut enough production to offset lower demand has traders dumping the futures contract. Crude oil is trading down 63% since its all time high reached on July 11th. Oil prices will be fluctuating wildly today as traders position themselves before the OPEC announcement.

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The FTSE is currently indicating a slightly weaker opening, while traders wait for the release of the of the UK GDP numbers. After seeing the US economy officially enter a recession, yesterdays traders worry if UK is the next major country to follow. Most analysts are expecting exactly that. Unless there is an upside surprise, the FTSE is most likely to spend the day in the red.

Oil was hurt yesterday as worries about a slowing economy were renewed when data showed that the United States officially entered a recession. Today, around London close, we will receive the weekly inventory data, which will determine the next short term direction for oil.

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The FTSE currently indicates a flat open, as traders realize that todays trading will be dictated by the US GDP numbers. Everyone will be watching to see if the numbers will show a contraction, which would indicate an official recession. This could result in the FTSE giving back most of their gains earned on Monday.

Oil jumped back to life on Monday gaining more then 9%, however there are concerns that the rally was more of a last gasp rather then a start of a new trend. Should crude add to those gains, we should see oil jump back into the 60 dollars per barrel mark  

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The FTSE currently indicates a higher opening, giving traders some optimism after what was a very bad week. Reports state that the FTSE might get hit with some negativity from the nationwide house prices, however it is very likely that we are going to start the week on a positive note. On another note, construction companies are begging the UK government for aid, pointing to the fact that no help will result in layoffs of almost 300,000 people.

Oil treads water above the 50 dollars per barrel level, however this seems to be a short tread. The long term downtrend is poised to continue and oil is poised to find itself trading near the 45 dollar level before December. Today we might be able to get to the 48 dollar per barrel

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