Themes

• General mood is “risk off”
• Very quiet consolidation on currencies in Asia today
• Oil posts a fresh high amid light volumes

What’s Moving

Very quiet session in Asia today, with the local market consolidating movements from New York that saw the USD slightly firmer on the increase in U.S. yields.

Currencies in Asia largely held tight familiar ranges, with no new extensions seen either way.

Oil did manage to eek out further gains however, but this was on very light volumes.

Data tonight sees:

• German Final CPI (E: +0.5%)
• U.K. CPI (E: +5.2%)
• Canadian CPI (E: -0.1%)
• U.S. Building Permits (E: 1.71mln) 
• U.S. Housing Starts (E: 1.65mln)