Markets in a Flash
· As an appetite for risk has appeared in Europe on this Monday morning investors have been selling the safety of the greenback and making it look weak today.
· Prior to the open of the US equity markets the equity futures markets are higher this suggests that the European uptrend will be followed at the opening bell.
· Oil and Gold are moving higher today. Oil is just below $74.50.
· Asian markets finished lower across the board last night. The Main Japanese and Chinese indices were down.
· European equity markets are higher this morning. The Stoxx 50 is higher by nearly 1%.
0830ET – Chicago Fed National Activity Index
Previous -0.63 Actual 0
The Chicago Fed National Activity Index is a monthly index designed to gauge overall economic activity and inflationary pressure. A positive index reading corresponds to growth above trend and a negative index reading corresponds to growth below trend.
Potash talks with other possible bidders
It was confirmed today that Potash, the world’s largest fertilizer producer is in talks with a number of third parties. Third party talks are underway to discuss the possibility of a bid to counter BHP Billiton’s $39Bn hostile takeover. The Chinese state owned chemical company, Sinochem, is a possible contender to BHP Billiton. The Chinese company last week confirmed it was keeping a close eye on developments.
News Coming Up
1000ET – EUR Consumer Confidence
Previous -14 Consensus -13
Any figure that comes in above consensus will suggest stronger economic growth and should prove bullish in the markets.