Erikthered
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Just when you think oil has reached unsustainable level, the commodity nicknamed as black gold, pushes even higher. Economists around the world are worried that this is putting a lot of strain on an already weak economy on both sides of the Atlantic ocean, and some have gone on record to say that oil will force a global recession, if not a depression.
The FTSE is indicated to open lower this morning, following the trend started last night in US, and early morning trade in Japan. US equities fell after the release of the Federal Reserve minutes, which stated that this was pretty much it for rate cuts. Imbedded in the language was also a hint that Bernanke and company will be looking to raise rates as soon as the first fall meeting. Not all is gloom as there is a very strong chance that the FTSE might actually open higher if the UK retail sales report, which will be released at 8.30am GMT shows a stronger then expected consumer health.
The FTSE is indicated to open lower this morning, following the trend started last night in US, and early morning trade in Japan. US equities fell after the release of the Federal Reserve minutes, which stated that this was pretty much it for rate cuts. Imbedded in the language was also a hint that Bernanke and company will be looking to raise rates as soon as the first fall meeting. Not all is gloom as there is a very strong chance that the FTSE might actually open higher if the UK retail sales report, which will be released at 8.30am GMT shows a stronger then expected consumer health.