Asia markets trading sharply lower this morning, with Japan's Nikkei a notable loser down 2.5% after making 32 month highs yesterday. The yen is again stronger this morning just above the 88 level, with that exporters were hit hardest with the autos leading the move lower.

European equity futures are mixed in early trade, notably major indices held some key technical levels yesterday, 6100 on the FTSE was tested on the downside yesterday but held firm.  Fitch have said that the risks of the UK losing their AAA rating are rising. We have Eurozone CPI data due and Germany's economic minister is due to present on the country's economic outlook.

In the US, equity markets closed near session highs last night ahead of some key earnings later today. JP Morgan (consensus $1.22), Goldman($3.66), US Bancorp (75c) and Ebay 69c will report today. For economic data, look out for CPI data, Industrial Production numbers and Fed's Beige book.



Philip Ball | Sales and Trading