Markets Await Data

Asian markets are mixed this morning as the Hang Seng has currently notched gains of 37 points whilst the Nikkei225 sits 145 points lower. Nervy markets are waiting on Retail and Core Retail sales numbers out of the US this afternoon to further confirm the health of the global economy. Contrasting numbers out of China on Monday have been perceived by many to be more positive than negative.

Mark Carney is talking on a panel discussion later today but Avg Earnings numbers out in the UK this morning may determine the next direction of sterling which hovers just above the 1.25 line.

Q2 earnings out today include Goldman’s, WellsFargo and JP Morgan, all before the opening bell. Conference calls will follow and the markets are sure to move. A wait and see approach is preferred.

Sterling may present the better trading opportunities this morning