Asian equities traded mostly lower overnight with the Nikkei 225 weighed down by a strengthening JPY, closing at -0.9%. The ASX 200 was hit, finishing at -1.1% as a combination of a more bullish RBA and a decline in the commodities sector weighed the index down. Chinese markets traded mixed with the Hang Seng following sentiment lower to finish at -0.9% and the Shanghai Composite found much to celebrate from the release of positive PMI data to finish at +0.4%.

In Europe, reports from the EU commissioner have him stating that the UK could stay in the EU if they change their minds on the referendum. Currently markets are favoring the EU against the UK, with the EURGBP continuing to climb to levels not seen since 2013. As always, any news regarding the future of the UK in the EU and its own both politically and economically will cause volatility in market. The most notably will be today's BOE`s release of the financial stability report and the BOE`s Governors speech, which he is due to give, regarding the report.

Today’s key economic releases are as follows:

UK

  • Services PMI expected at 53.1
  • BOE Financial Stability Report
  • BOE Gov Carney Speaks

USA

  • Factory orders expected at -0.8%
  • FOMC Member Dudley Speaks

NZD

  • GDT Price Index previously at 0