Morning Report: 07.45 London

Summary:

• Stock market futures are indicating a positive start to the day after a weak session yesterday.
• Chinese Manufacturing numbers came in slightly above expectations, while Australian GDP smashed estimates to come in at 1.2%.
• The mood has shifted to glass half full again with the yen under pressure and the Aussie dollar in demand. The AUD/JPY is up 1.12% and the AUD/USD up 1%.
• Traders are also taking some money off the table on the Swiss franc as the currency gives back some of yesterday’s gains. The EUR/CHF is up 0.44% and the USD/CHF up 0.15%.
• Gold is still in demand, trading above $1,250 briefly this morning. Gold has closed above this level only twice before.

Markets this morning: