Asian markets mixed again, with the notable movers being the Nikkei up almost 3% and South Korea's Kospi index falling just over 1%. Japan moved sharply higher after data released for CPI showed a 0.2% fall, suggesting further stimulus measures will be implemented, the Yen is trading above 90 and is set for it's 11th straight weekly loss. Korea's index was dragged lower by Samsung which traded 3% lower despite releasing better than expected earnings after saying the stronger Won is hurting profitability.

In Europe, futures are pointing to a loss of around 20bps, today look out for German IFO sentiment data and UK GDP with consensus of a fall of 0.1%  for the latter. Possibly more importantly will be an expected announcement from the ECB on how much the banks will repay in the first LTRO window.

In the US markets were stronger yesterday with the S&P briefly trading above the psychological 1500 level boosted by better corporate earnings and jobless claims numbers. Microsoft were trading modestly lower after the close after releasing earnings. Today we have numbers from Sent from my Honeywell ($1.10), Proctor and Gamble ($1.11) and Halliburton (61c), and for economic data look out for New Home sales.

Philip Ball | Sales and Trading