Main focus today will be on employment figures out of Germany and the US with especially the US having shown a considerable slowdown in job creation in the past couple of months. Further worsening could reignite fears that the European financial crisis is having a much bigger toll on the US economy than previously expected possibly similar to what is currently happening in China. Finally consumer prices estimates for the Euro-zone are being released a lower than expected reading might provide the ECB with more leeway to lower rates during their next meeting in June. Despite plenty of economic data neither Greece nor Spain is expected to completely vanish in the background today, with any major rallies likely being sold as uncertainty regarding Greece’s membership in the Euro and Spain’s banking sector remain.

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