European markets are trading mixed this morning as traders are concerned about the lingering tensions over in Ukraine and fragile credit situation in China. The FTSE MIB is the weakest index during the trading session and it is trading lower by nearly 0.61%. The DAX index is the second worst index and it is trading lower with the loss of 0.21%. The CAC 40 is the only index which is trading higher with a gain of 0.10%.
US futures are also trading the same despite a strong earnings from Citigroup yesterday. The US earnings which are due today are Coca Cola, Intel and Yahoo. The retail sales data released yesterday in the US did show a strong number for the country, but you have to keep in mind that the previous two readings were very weak due to the bad weather in the country.
As for the economic docket, we do have the German ZEW sentiment data in Europe at 10:00 GMT. The forecast is for 46.3 while the previous reading was at 46.6. But, before that, we do have the UK’s CPI data due at 1.6%. Later in the day the Core CPI data will be released for the US and the forecast is for 0.1%.