The important question is, does it really matter that we are getting weak economic data, according to the United States market was just a few points shy off from the all-time closing of yesterday. Buyers are definitely the flexible disappointing economic reports, as they pass released, and it is easy to blame the weather. However, S & P 500 Index has begun to show some signs of shaky footing when the image is added to the resistance in 1850.Europe markets translated into a somewhat similar scenario morning . Nagging concerns about China’s growth likely to withdraw their support from banks and real estate sector , is the most weight on the market. The main focus of traders today will be in the UK Q4 GDP data is due at 09:30 GMT, and it can be a lot of attention , because the EU Commission Europe also upgraded its forecast for GDP 2014 country yesterday to 2.5 % from its previous reading of 2.2 %. Except for a few , it may be safe to say that we are starting to see the same type of motion back in the UK, we as last year, the CBI retail sales numbers , and mortgage approval data yesterday showed little to no effect of bad weather , one would think , given the flooding we have in the UK.
The economic docket United States, we think it is from where it left yesterday, probably no surprise given the weak and pick up. Our new home sales data due at 15:00 GMT and expected to be 406K, which is again much lower than the previous figure of 414K.Given that, JP Morgan has announced massive job cut in the mortgage arena, it seems to be a serious threat for the sector and for the economy because it was housing sector which was driving the recovery.