All Eyes on ECB Meeting

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The Euro edged lower yesterday following a raft of downbeat economic data from the Eurozone. This has fanned market speculation that the ECB might hint at taking additional easing measures at its policy meeting today. The outcome of the Spanish and French bond auctions are likely to garner market attention. Following weak ADP jobs data from The U.S. yesterday, the non-manufacturing composite index due today is likely to be keenly eyed.

Data just out indicates that the service sector in the UK expanded at a slower pace for April. This follows downbeat comments from Mervyn King and weak Nationwide housing prices released earlier today.

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