Asian markets are firmer this morning after China released PMI data with a reading better than forecasts signalling expansion. The Nikkei is higher by around 2%.

European equity futures are higher by around 70bps, boosted by the China data. Today we have PMI data out of Germany, France, Italy and the UK, and later we have rate decisions from both the BOE and ECB.

US markets closed near session lows at broadly unchanged afÞer the Fed announced that they will maintain the existing bond buying program. This came after a better than expected ADP employment report, today we have jobless and ISM manufacturing data.

Philip Ball | Sales and Trading