German IFO Seen Adding To Encouraging Euro Surveys

By Craig Erlam A negative lead from the US combined with mixed moves in Asia overnight appears to be weighing on European futures ahead of the open. The lack of many significant economic data or news flow won't be helping matters and may well provide the backdrop for consolidation in the markets this week.We've had a lot to take in over the last few weeks with the Federal Reserve's view on the economic outlook appearing to soften and the European Central Bank beginning its quantitative easing ((QE)) program taking most of the headlines. The first quarter earnings season is next and people are not optimistic as the strength of the dollar in particular is expected to be a major drag on earnings. This may provide the perfect opportunity for a correction in the markets although that could depend on whether a poor earnings season and strong dollar also softens… Read More …