Us equities traded in a tight range and finished the day in slightly red territory as markets await Wednesday FOMC meeting. The DJIA lost 0.15%, the S&P500 lost 0.18% and the Nasdaq finished flat.
Asia-Pacific followed Wall Street lead and finished in the red as the region is expecting its own share of volatility in the form of the BOJ meeting. The Nikkei 225 lost 1.35%, the ASX 200 lost 0.5% and the Shanghai Comp lost 0.3% despite further liquidity injections by the PBoC.
In the commodities sector we saw crude oil trading sideways to negative both yesterday and in early trade today as the overall sector traded lower driving commodity linked currencies with them.
Data out of the US and Canada take centre stage today with the US Core durable Goods orders m/m (expected at 0.6%) and the CB consumer Confidence (expected at 95.8) due and Bank of Canadas Poloz due to speak. The Asia Session will also experience its fair share of volatility in large part due to the Australian CPI q/q (expected at 0.2%), the Australian Trimmed Mean CPI q/q (expected at 0.5%) and the New Zealand Trade balance figure expected at 405M.
Overall markets are expected to experience some volatility with a cautious tone clouding sentiment as players await the key FOMC and BOJ data which will set the tone for the remainder of the week, month and perhaps longer.