Themes

· General mood is “risk off”

· AUD and CAD supported on firmer oil prices

· USD/JPY still strong and posting new highs

What’s Moving

Gains in oil prices again helped to support the Canadian and Australian Dollars, with players looking for incentives wherever they can find them at the moment. The AUD finished at day highs. Gold also caught a bid in late New York trade, which supported further buying to the AUD.

U.S. rates dipped slightly, but seemed t have no major impact on the AUD, with the Dollar still powering higher against the Yen and breaching the 121 handle.

Thoughts

With little major data in Asia today, expect consolidation of overnight moves locally. The BoJ will release their latest meeting’s minutes, while data today does see:

· Japanese Flash Manufacturing PMI (E: 53.5)

· Japanese Flash Services PMI (Last: 42.7)