Asian markets mixed this morning on very light volume, the Chinese press reported that China’s September CPI may rise by around 2.2%. LG Display , supplier to Apple, in Korea fell around 3% after Apple’s iPhone 5 sales fell a little short of expectations.
According to unnamed sources, the ECB and the Bundesbank are said to be checking the legality of the bond buying program. Later this morning we have French business confidence and Italian and German consumer sentiment data. European equity futures are indicating very slightly higher in early trade.
In the US today we have Case Shiller house price data along with consumer confidence, whilst the Fed’s Williams said overnight that US GDP growth will be 2.5% in 2013 and 3.25% in 2014 and the US economy is on the mend.
Philip Ball | Sales and Trading