London calling

The morning has started with mildly positive news on the UK housing front with Rightmove publishing its latest data. According to the latest House Price Index, UK prices have risen by 0.4% during the prior month. This increase is markedly less than the 1.3% increase that was reported in April.

Onto this morning and it should be a quiet day in Europe due to the observance of the Whit Monday holiday.

The only significant data release will come this afternoon when the Federal Reserve Bank of New York publishes the Empire State Manufacturing Index. The prior month's release was 9.6 and the market is expecting a decline to 7.2.