The FTSE currently indicates a flat opening as traders wait for the release
of the US jobless claims number. Over the last few weeks this number has
foreshadowed a worse then expected Non Farm Payroll number. Today should not
be any different, analysts will be going through the numbers with a fine
tooth comb to see if the release will give them a clue as to the conditions
of the US employment status. Should the numbers come out worse then
expected, we could see the equity markets around the world take a dip.
Traders are covering their short positions ahead of the OPEC meeting, which
is about the only thing that is stopping oil prices from trading below the
40 dollar level. Gold got a huge boost today as the US government promised
another 15 billion dollars to help its ailing economy. We could possibly see
gold finishing the year near the 900 dollar mark.
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