Asian markets are lower this morning, giving back some of yesterday's gains as some believe the template used for the Cyprus bailout will be used on others. South Korea released a weaker than expected quarterly GDP figure of 0.3%.

European equity futures are flat this morning, after posting sizeable losses yesterday having reversed on earlier gains on optimism after the deal for Cyprus was announced. Today all eyes will be on debt auctions for Italy, and look out for French consumer confidence and UK CBI sales.

In the US markets closed lower after the S&P came close to making fresh all time highs, today we have durable goods orders, consumer confidence, Richmond Fed and home sales.

Philip Ball | Sales and Trading