European markets have started on a positive note after US public holiday kept markets quiet last night.
At moment we see FTSE at 7238 down 8 , DAX at 12410 up 24 and CAC at 5268 up 12. The US Dollar index is looking stronger with EUR now 1.2354 down 54 and GBP at 1.3983 down 20. It is looking likely that we will see a move lower in markets tonight as we have had 2 sessions at resistance levels which have so far held.
The German ZEW Economic Expectations Index is due out shortly to give investors an idea how the German economy is going after record levels with previous numbers.
HSBC , Europes largest bank was out with earnings today and numbers were lower than expected after the US Tax reforms caused a writedown of assets. The stock has fallen be 3 %.
No US economic data is due out.