Asian markets are mixed this morning with the Nikkei a standout loser down almost 2% as Japan's finance minister said that current levels of economic growth warranted an increase in a sales tax. Elsewhere, the Indonesian central bank are due to announce their interest rate decision with no change expected.

In Europe, equity futures are lower by around 30bps, and today we have UK retail sales data out of the UK.

US markets closed near session lows last night, ahead of initial jobless claims and consumer prices due later today. Equity futures are currently slightly lower.

Philip Ball | Sales and Trading