FX not taking part in ball with commodities and fairness efficiency at present

Sentiment remains mixed as we head deeper into today’s EU session.

• FX continues to follow its own path on the sentiment side today with safe haven JPY and CHF maintaining their lead, while high beta AUD and NZD are the clear laggards.

• US and EMEA equity futures have found a bit more love this morning, while the ASX200 has taken the lead. However, the two underperformers (CN50 and the Nikkei) from earlier is still down on the session, albeit off their lows.

• Yields are mixed with only very marginal flows so far across 2’s, 5’s and 10’s.

• Commodities are trading comfortably in the green this morning (apart from Natgas which is doing natgas things down close to 2%). Silver is in the lead up over 1% with oil not too far behind it.

There is very little for markets to get excited about today’s calendar and fundamental news flows has been fairly light.