AUD and NZD have turned down sharply from earlier highs

AUD/USD, NZD/USD, EUR/USD, cable are all lower. USD/CAD is higher.

More notably, yen crosses are getting hit as USD/JPY drops towards 134.50.

US equity index futures Futures Futures or a futures contract represents a legal agreement to buy or sell a security or asset at a predetermined price at a specified time in the future. Of note, the parties are not known to each other.These transactions usually involve commodities or other securities involving the buying and selling for a forward or predetermined price.Futures also adhere to a delivery date, which specifies the date of delivery and payment. Relative to other forms of investing futures are much more complex, as Futures or a futures contract represents a legal agreement to buy or sell a security or asset at a predetermined price at a specified time in the future. Of note, the parties are not known to each other.These transactions usually involve commodities or other securities involving the buying and selling for a forward or predetermined price.Futures also adhere to a delivery date, which specifies the date of delivery and payment. Relative to other forms of investing futures are much more complex, as Read this Term are soft in Sunday evening trade also. Friday US trade was a little more optimistic but the good feeling his dissipating. Recession worries are in the air. This, as an example:

• ICYMI - IMF slashes US growth forecast, says the US will "narrowly" avoid a recession

• BIS warns that the global economic indicators are "flashing red", real risk of stagflation

Add in a sovereign default:

• Russia is poised to default on its debt - 26 June 2022 deadline

AUD/JPY update: