Positive intraday trend in equities expected [HEAT]

Equities: A Closer Look
The trend coming from Asia bringing risk appetite back on the table, should spill-over into the European session leading amongst other the higher equities. We could see an opening in European equities slightly negative on the back of technicalities, but today’s intraday trend should be positive.

The trigger in the Asian session had better than expected job numbers in Australia and the fact that other European countries like Norway are starting to buy Greek government debt as they see no risk of default.

The unknowns of today are the stance of Bank of England (BoE) and US trade balance. As stated, we do not expect the BoE to do much and in this regard this is clearly a non-event. The US trade balance could surprise to the upside and in the case that this comes true it could spur another uptick in equities. But for now trading around the 1100-level in S&P500 intraday is our base scenario as the amount of news that could stir this picture is limited.

Read the Morning Kickoff.