Themes

· General mood is “risk off”

· More Dollar strength overnight on higher U.S. rates

· Swag of Chinese data slated for release in Asia today

What’s Moving

A largely news quiet session overnight instead saw all markets follow the march higher in U.S. yields. This saw equities weaker and saw some further Dollar strength, with the best gains seen against the Yen and the Swiss Franc.

Weaker gold and oil prices weighed on the AUD, which in turn pressured the other commodity currencies.

At the final bell, we saw broad Dollar strength, but volumes over the day were relatively light.

Thoughts

After a largely nothing session overnight, we are expecting another session of consolidation in Asia today. It seems the market has come to terms with the Ukrainian conflict and risk would be to Dollar weakness once its resolved.

A swag of Chinese data slated for release today, while the RBA Monetary Policy Meeting Minutes are also due this morning.

Asian session data today sees:

· Chinese Retail Sales (E: +3.0%)

· Chinese Industrial Production (E: +4.0%)

· Chinese Unemployment Rate (E: 5.1%)