Asian markets firmer this morning, with China leading the way up around 3% after the government said that insurers will be allowed to invest more in banks. Australia released their GDP figures which came I n marginally lower than expected. The BOJ have again stressed that they are ready to take further action with regards to monetary policy.
In Europe, today look out for PMI services data across the Eurozone region along with the regions collated retail sales. In the UK, the Cancellor of the Exchequer will release his Autumn statement at 12.30pm. European equity futures are following the lead of Asia to trade up around 60bps, whilst the Euro has broken above 1.31, the 1.315 region should offer significant resistance.
In the US, we have ADP employment data with consensus at 140k, along with Factory orders.
Philip Ball | Sales and Trading