Asian markets have moved sharply higher this morning with the Nikkei up over 2% with the Yen making fresh two and half year lows after a meeting between the BOJ Governor and the country's economic minister said there was room for further Yen weakness. Elsewhere, China was almost 2% higher after reporting a better than expected GDP number of 7.9% for the quarter. Technology shares were a leading sector after both Intel and Taiwan Semi Conductor said that they will be increasing capex spending in the year ahead.

European markets are only indicating marginally higher, whilst the Euro is slightly firmer, many have the 1.3480-1.35 area as a target. Look out for Italian Industrial sales and orders along with retail sales data out of the UK.

In the US, markets traded higher yesterday boosted by better than expected housing data. Numbers from both Citigroup and Bank of America were slightly disappointing, whilst Intel reported after the close and were trading 2% lower after hours despite reporting a better than expected EPS. Today GE (43c), Parker Hannifin $1.13) and Morgan Stanley (27c) are among names reporting , and for economic data, the Uni of Michigan confidence is due.


Philip Ball | Sales and Trading