Asian stocks moved lower last night despite a record finish on Wall Street after weaker than expected US retail sales growth added fuel to speculation the Federal Reserve would hold off on tapering its quantitative easing programme in the near future.
The Nikkei bucked the trend on account of a weaker yen, finishing up around 0.6 per cent.
Opinions on where the FTSE will start this morning are mixed.
ETX Capital #morningcall FTSE +8, DAX +7, CAC +5, IBEX +1, DOW +3, S&P Unch— ETX Capital (@ETXCapital) July 16, 2013
European bourses may have reflective opening after a decent run - FTSE -6, DAX -8, CAC -3— David Buik (@truemagic68) July 16, 2013
With 40 minutes to go the FTSE is forecast to open +5 at 6591.— David Jones (@DavidJones_IG) July 16, 2013
It's also set to be a big day for macroeconomic data.
Key events today:
0930: UK consumer price index (CPI), producer price index, and retail price index
1000: Eurozone CPI and trade balance
1000: ZEW survey of economic sentiment in Germany and eurozone
1200: Chief secretary to the Treasury Danny Alexander outlines findings of alternatives to Trident
1330: US CPI
1400: US net long-term TIC flows
1415: US industrial production