Global markets are off to a cautious start this morning

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- Global markets are off to a cautious start this morning with the FTSE flat at 6695, Dow Jones down 35 at 15233 and the Dax down 25 at 8332 as of 9am this morning.

- The markets continue to be bullish as they have climbed higher for the last two consecutive days, it seems as though short sellers are becoming more concerned and are eagerly anticipating the markets to break this upward trend to live up to the famous saying “sell in may and go away.”

- As the markets continue upward, investors will be keeping a keen eye on the gold price as it is often used as a hedge against inflation however a report yesterday says otherwise which sees it trading as low as $1,375 an ounce down 1.3% in the early hours this morning.

- In terms of statistical data today we have a lot coming from the US being building permits, core CPI and unemployment claims at 1:30pm along with the Philly Fed Manufacturing Index at 3pm. On the other hand not much stats from the Eurozone just the CPI data which will be released at 10am.

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