Asian markets are mainly lower this morning on light volume as the world awaits the outcome of the US general election. Both the Yen and Aussie dollar were stronger this morning as the Australian central bank unexpectedly kept rates on hold.

In Europe this morning we have PMI data due from across the region along with factory order data out of Germany. According to a draft document, the EU predicts Spanish GDP will fall 1.6% in 2012 vs 1.5% fall forecasted by Spain.  Equity futures are pointing to a rise of around 20bps whilst the Euro remains below 1.28 critically lower than the 200 day moving average .

In the US, very little due in terms of economic data, with the main focus for  the next day or so likely to be the too close to call US Presidential election.

Philip Ball | Sales and Trading