Not much change at all from levels seen at the close in North America, with the Asian overnight trade being largely uninspired.
The release of US bank stress tests came and went without roiling the markets. The U.S Government projects that 19 of the countries biggest banks could suffer losses of up to $599 bln through end of next year if the economy performs worse than expected, and has ordered 10 of them to raise a combined $74 bln capital to cushion themselves.
There’s some talk the much better than expected Australian jobs data may have been a statistical anomaly, with the Australian Bureau of statistics warning that there may be some margin of error in the data!!!
Meanwhile Chniese VP Wang feels the global economy to get worse before it gets better.
Market now awaits US April jobs data, unemployment seen jumping to 8.9% from 8.5%, with the median forecast for non-farm payrolls being -600k.
Could well be a relatively quiet European morning session.
