Commodities

The FTSE is currently indicating a sharply lower opening, as traders are worried that the GDP numbers which are released this morning will come out on the weaker end. A weak number would deal another blow to the BOE which has been fighting a war on two fronts, Inflation and a sluggish economy. The good news is that a weaker GDP might force the hand of the BOE to cut interest rates at the next meeting, which would be a positive move for the FTSE.

The FTSE is currently indicating a slightly lower opening, as traders are waiting for the release of the UK retail sales numbers. Recently the health of the consumers has come into question, with falling home prices and higher unemployment figures consumers are stuck between a rock and a hard place. We believe that the number will come in slightly weaker then expected, and result in weakness among the retail sector of the FTSE and a selloff in the GBP/USD.