US equities fluctuated between gains and losses throughout yesterday’s session as we saw quiet news flow with no real reason for a direction to be taken. The DJIA lost 0.19%, the S&P 500 gained 0.08% and the NASDAQ-100 finished up 0.26%. Crude sold off more than 2 USD yesterday as uncertainty over Saudi Arabia`s change in oil ministers and a report of a larger than expected build floating through the market, resulting in the USD enjoyed the lion’s share of gains against its counterparts as we saw risk appetite being reigned in.

The Asian Session saw the USD give back some of its gains, expect for against the JPY which continues to weaken resulting in good returns in the NIKKEI (+1.5%) as exporters take a breather. China`s Shanghai Composite closed in the green too (+0.2%) after encouraging inflation figures lifted sentiment in the region. The ASX 200 (+0.1%) shrugged off commodity losses as financials strengthened throughout the session. Elsewhere, crude oil recovered slightly off its worse levels as 43 proved a strong support level, while gold came off slightly overnight as China's data improved the risk tone of the region.

Today’s key risk events are as follows:


  • FOMC Member Dudley Speaks
  • JOLTS Job Openings expected at 5.55M


  • Goods Trade Balance


  • RBNZ Financial Stability Report
  • RBNZ Gov Wheeler Speaks