There are again plenty of economic data scheduled for release today with data overall expected to paint a rather bleak picture especially in Europe where economic growth seems to be increasingly hard to come by.

Later on the focus will shift onto the all important US Non Farm Payroll data, with traders expecting some kind of stabilisation after most recent declines in job growth, a further weakening would certainly renew calls for the Fed to step in and to provide some form of assistance to the struggling economy.

Overall things look very bleak for stocks at the moment, especially with Greece’s future in the Euro still hanging in the balance and the full extended of the problems of the Spanish banking sectors only being slowly bit by bit revealed.

On the other hand however losses over the past few weeks have been substantial with May turning out to be a rather horrific months for many stocks for the third year running, it might just be the case that stocks have dropped a bit too quickly with much of the current bad news already priced in leaving plenty of scope for positive surprises.

Markus Huber - Head of German HNW Trading - ETX Capital
www.etxcapital.com