Some of the market moves from overnight are beginning to moderate now. The dollar is down across the board and we're also starting to see the Australian dollar take a bit more of a hit as market players digest the change in the tariffs war to a more focused US-China trade war. On the aussie currency, I shared some food for thought earlier here.
US futures are now taking a bit of a dip, with S&P 500 futures down by 1.1% while oil is also dropping lower to start the session. WTI crude is now down 2.5% to $61.10 on the day.
In FX, USD/JPY is down 0.7% to 146.63 after hitting a high just over 148.00 in overnight trading. EUR/USD has also come back up to 1.1000 now after a fall to 1.0912 overnight.
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