The DAX Futures is trading at 12,611.00 with 0.00% percent or 0.00 point .The FTSE 100 Futures is trading at 7,501.00 up with +0.55% percent or +41.00 point. The CAC 40 Futures is trading at 5,469.50 up with +0.62% percent or +33.50 point . The EURO Stoxx 50 Futures is trading at 3,475.00 up with +0.03% percent or +1.00 point.
TODAY’S FACTORS AND EVENTS
UK PMI manufacturing report hit its lowest level in 17 months sending cable tumbling in early London trade as the pair fell through the 1.3700 level breaking key support.
UK PMI printed at 53.9 versus 54.8 eyed as data once again showed a slowdown in UK economic activity. According to Markit:
The news provides yet another problem for BOE which was all set to hike rates in its upcoming meeting in May. Given the deceleration of activity which is now dangerously flirting with recessionary levels, the MPC may have to rethink its hawkish stance and keep rates stationary for the time being. The key event for cable traders this week will be Thursday UK PMI Services report which is already approaching the 50 boom/bust level. If the data does not improve in UK’s largest sector, chances of a rate hike are sure to drop and GBP/USD could test 1.3500 as a result.
For the day the Dow is trading at 24,099.05 with a loss of -0.27% percent or ?64.10 point. The S&P 500 is trading at 2,654.80 up with +0.25% percent or +6.75 point. The Nasdaq Composite is trading at 7,130.70 up with +0.91% percent or +64.44 point.
In other parts of world, Japan’s Nikkei 225 is trading at 22,472.78 with a loss of -0.16% percent or -35.25 point. Hong Kong’s Hang Seng is trading at 30,710.51 with a loss of -0.33% percent or -102.18 point. China’s Shanghai Composite is trading at 3,081.32 with a loss of -0.030% percent or -0.91 point. India’s BSE Sensex is trading at 35,245.13 up with +0.24% percent or +84.77 point at 12:15 PM.