- U.S. indices ended Tuesday's session sharply lower, extending the wave of declines seen since the beginning of the week. All major Wall Street benchmarks ended yesterday's session down an average of 1.2% intraday.
- Today's session in Asia-Pacific markets was conducted in a relatively mixed mood. Chinese markets are doing well due to better profit data in the industrial sector there. The Hang-Seng Index gained 0.55%, and stocks listed on Shanghai markets gained an average of 0.25%. Benchmarks in Japan, Korea or India, however, are seeing moderate declines at the moment.
- The EUR/USD pair hit a six-month low below the 1.0560 zone. In the broad market, the JPY and USD are the best performers at the moment, with the Antipodean currencies suffering the biggest losses.
- The BoJ's minutes did not permanently change sentiment around the bank's continued loose monetary policy, but between the lines, bankers are looking with great uncertainty at wages, which many believe could rise at a pace not seen in the past.
- Economists at US investment banks expect credit conditions to weaken over the next six months.
- JP Morgan says rising oil prices could destroy market demand.
- Highlights of the day include the ECB meeting (non-decisional), German Gfk consumer sentiment, U.S. durable goods orders data, oil inventory change report, and a speech by Jordan, chairman of the SNB
Heatmap of the FX market, which illustrates the volatility on each currency pair at the moment. Source: xStation 5
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