Asian markets have risen this morning for the fourth consecutive session, prompted by Chinese inflation data which showed easing and weaker than expected Industrial output, both of which may allow policymakers room for further easing. The Bank of Japan left its stimulus program unchanged, and the Bank of Korea kept rates on hold today. China Yurun Food group rose 7% as Kerry Group raised its stake in the company and Nikon Corp fell around 8% after cutting its profit forecast.
European futures are looking around 20bps better, not a great deal of economic data with UK trade balance of most significance. US futures are looking around 30 bps higher, with sentiment boosted by HP raising their outlook. Kohl’s and Nordstrom are high profile retailers reporting numbers out of the US.
Posted by Philip Ball | Sales and Trading