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The FTSE currently indicates a lower opening, following the theme started in Asia. Traders are going through the recent report from Gordon Brown, in which the Prime Minister announced that he will increase Britains spending in order to cushion the countries first recession since 1992. While this is good news for equities, the FTSE is going to open in the red due to the sell off which started in Australia this morning.

Crude oil is trading at a 16 month low amid expectations that OPECs decision to cut production was not enough to get prices back to the summer levels. Gold traders have been frustrated lately, as gold prices have dropped by more then 150 dollars per ounce, as a result of a strengthening US dollar. There is a strong indication that oil might touch 60 dollars per barrel before putting a halt to the recent slide.

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The FTSE currently indicates a weaker opening this morning, as the sell off which started in US last night continues. Traders find themselves caught in a struggle, with both sides afraid of taking charge. The Bears are worried that another intervention will cause a short squeeze, while the Bulls are concerned that stocks have a lot more room to fall. It is possible that the FTSE might get a boost before the opening, as traders await the release of the UK retail sales numbers.

Oil currently finds itself trading at a 16 month low, after the US inventory report showed that the demand for oil is down by almost 10 percent for the year. Analysts are now estimating that OPEC would need to cut its output by more then 1 million barrels per day in order to reverse the recent losses. We believe that oil might actually touch 60 dollars per barrel before the end of the month.

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The FTSE is currently indicating a flat opening, as traders wait for the release of the UK Rightmove House Prices. A weak number might send the FTSE into the red. Money managers around the world are hoping that the volatility, which plagued the stock markets last week, has come to an end. Currently futures indicate a flat opening to all European equity markets and the FTSE.
 
Oil rose for a second day, on speculation OPEC will cut output in an attempt to halt a slide in prices, which have fallen more than 50 percent from July's record. The OPEC meeting will be held on the 24th of October. With a possible floor in place for oil prices, we might see a test of the 80 dollars per barrel level as we get closer to the meeting.

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The FTSE currently indicates a higher opening, as traders, after some initial skepticism, are finally buying into the bailout plan. Although there is no UK economic data today, traders will be looking at the US housing and consumer confidence data. A worse then expected consumer confidence number can send both the US equities and the FTSE into the red.

The threat of an OPEC cut at its meeting next week has lifted oil from a 13 month low. Oil which is currently trading around the 73 dollars per barrel mark, has been in a tailspin as worries of a full fledge recession intensifies. We believe that oil prices have hit their lowest and could only go higher from here.

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Consumer confidence regarding the health of the economy is about to be rattled again, as the FTSE is indicating a very weak opening. The slump that started in US, where the SP500 suffered its worst one day loss since 1987 has continued the sell off into Asia and will move into Europe and UK as the FTSE is indicating an open down more then 4 percent.

Oil seemed to strengthen in the morning before the weakness in the equities market sent oil prices down by more then 6 dollars per barrel. Due to a holiday on Monday, the US oil inventory numbers will be released this afternoon, which should provide some fundamental direction to the black gold, which lately has been caught in a cross fire between equity weakness and US dollar strength. We do not expect for the price of oil to dip below 70 dollars a barrel.

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