Asian markets are firmer this morning with Japan's Nikkei again leading the way up over 3%, after industrial production came in better than economists' forecasts.

European equity markets are looking little changed first thing after posting decent gains in yesterday's session. Today look out for German retail sales and CPI, Italian CPI, French PPI and consumer spending.

US market closed higher but off session highs after home sales data came out with their strongest readings since 2006. Fed Vice Chairman Dudley indicated that although conditions are improving stimulus would not be pulled too early, and despite such comments gold continued its fall, trading below $1200. Today we have Uni of Michigan confidence data.

Philip Ball | Sales and Trading