Themes

· General mood is “risk off”

· ECB’s Visco: Must get out of negative interest rates without spooking markets

· Quiet overnight session on Friday on currencies and U.S. stocks

What’s Moving

With plenty of eyes on U.S. stocks at the moment, equities finished tightly mixed in the U.S. on Friday, posting their seventh consecutive weekly fall.

Currency markets were largely quiet over the course of European and U.S. trade, with the Dollar slightly weaker to the benefit of the Yen. This move was more a profit-taking / position adjustment drift rather than being inspired by any news events. There was no key data on Friday.

Thoughts

With no data of consequence in Asia today and with a lack of clear cues from offshore markets, expect a very quiet start to the week locally.

Sterling and Kiwi are seeing some buying out of the chute locally, but the volumes are small.