Today, the European markets will have another chance to react to the weak non farm payroll figure from Friday. Although this week will also have its own fair share of high profile data to get the major indices moving.

The major talking point will be the FOMC meeting on Tuesday. However the big talking point will be the possible added QE by the Federal Reserve rather than a movement in the base rate.

It seems the heat wave in the US is taking its toll on the economic recovery as it starts to feel the heat and run out of steam.

Disappointing growth and stubbornly high unemployment is likely to leave officials with the important task of deciding whether to further pump the economy with a debt buying program.

Whether this happens is still very much up in the air, but the reaction by the major markets could well be an aggressive one.

Markets could see the move as a good sign of officials seeing the problem and acting before its too late. On the other hand, a further sign of a stuttering economy could well spook the markets in to a bigger fall for equity markets and hence a fall across the Index Spreads.

It’s not only the US that has some big economic announcements coming out this week.

In the UK this week, numbers on employment, trade balance and the overall inflation report are all released and all have the potential to give markets and aggressive move either way.

However Monday is looking like the quietest day of the week with only a handful of corporate and economic announcements.

It is likely to be the case that the major story will still be Friday’s non farm payroll data.

Ahead of the open we expect to see the FTSE 100 up 48 points at 5,380, the DAX up 54 points at 6,314, and the CAC up by 42 points at 3,758.

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