Asian markets are lower this morning with the Nikkei lower by around 2% as the new BOJ governor gave no indication of fresh stimulus, with that the Yen traded higher against the dollar to teade below 95. Exporters were lower with automakers being notably lower across the sector.

In Europe, equity futures are around 40bps lower ahead of a crucial debate in Cyprus in a effort to agree on bailout terms before the 23rd of March deadline set by the ECB, as the country has said this morning that they will not get fresh aid from Russia. The Euro is around 1.29 but has crucially held  support at the 200 day moving average in the past couple of sessions at around 1.288. Today we have French production output numbers and IFO survey data out of Germany.

In the US, markets were lower with profit taking on concerns over the bailout for Cyprus. Futures are marginally lower in early trade. 

Philip Ball | Sales and Trading