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There is cautious optimism about the European Central Bank's forthcoming interest rate decision. The seeds were sown when the Italian finance minister suggested the euro should be weakened. The economic data from the eurozone does not call for a rate cut, but nonetheless traders don’t want to be short ahead of the decision. I think the notion of a reduction in interest rate is a case of wishful thinking, however.
Credit-checking firm Experian may want to review its own worthiness after dropping to the bottom of the FTSE 100 leaderboard due to missing profit estimates. The firm also brought its share-buyback scheme to a halt after expanding its US operations via an acquisition. Moneysupermarket.com is in the money today after the price comparison website's revenues jumped 25% in October. Customers searching for the best deals on energy tariffs increased traffic to the site.
In the US, we are expecting the Dow to open 60 points higher at 15,678, as dealers are pricing in a rate cut from the ECB tomorrow.