Asian markets are closing in on their highest close in around 4 months, with China's Shanghai Composite up just shy of 1% after China PMI data came out with it's highest reading in 6 months.

European equity futures are around 40bps lower, following the lead from lower US markets. The Euro this morning traded at 7 month highs after Germany's Chancellor Angela Merkel looks set to record the biggest election victory since 1990. Today we have German, French and Eurozone PMI data.

US markets closed at session lows on Friday, with markets hit after comments from the Fed's Bullard suggesting tapering may start in October.  Today we have Chicago Fed Nat Activity Index.

Philip Ball | Sales and Trading