This morning in London: The FTSE 100 is up 18 points at 6561.
FX and commodities: GBP/USD is down eight pips at $1.5173, EUR/USD is 18 pips weaker at $1.3078 and USD/JPY is up seven pips at ¥99.02. Oil - Brent Crude is nine cents lower at $107.66 and Gold up $1.5 at $1281.
Latest news:Last night’s performance in US markets has shown that traders are less bothered about the ongoing uncertainty over the end of the QE process and more focused on the US equity reporting season.
Large moves in the US dollar, sterling and the euro have been triggered by comments from the US, UK and European central banks, and traders will be watching carefully to see if these have been completely played out or if there is more to come.
Stocks: The first of the mainstream US banks to update this reporting season are JP Morgan and Wells Fargo. The long drawn-out tie-up between AG Barr and Britvic has finally been binned, after the original cost-saving synergies slowly became less attractive. Britvic has managed to aggressively restructure and the fact that AG Barr has changed little does leave it a little vulnerable to a takeover.
The day ahead: Industrial production figures from the EU are released at 10am, with US monthly PPI and the University of Michigan consumer confidence following this afternoon. All figures as at 8.30am (London time).