• AUD leads, NZD lags on the day
  • European equities lower; S&P 500 futures down 0.7%
  • US 10-year yields down 2.7 bps to 3.439%
  • Gold down 0.7% to $1,923.81
  • WTI crude up 0.1% to $80.21
  • Bitcoin down 1.2% to $22,621

It was a bit of a quiet session but there were some decent market moves, as risk sentiment turned from being cautious to being put on the defensive.

Microsoft warned about a slowing sales outlook and that weighed on tech stocks with Nasdaq futures holding lower by 0.6% at the end of Asia trading, before things turned worse in European morning trade. The mood in equities is perhaps also not helped by stronger CPI data in Australia and New Zealand as well.

S&P 500 futures are now down 0.7% with Nasdaq futures down 1.1%, as we also see European indices sit lower on the session.

In FX, the dollar benefited as a result with the euro and pound nudging slightly lower against the greenback and USD/JPY falling from 130.20 to 129.70 levels at the moment.

The aussie remains the lead gainer, after having pushed to 0.7120 against the dollar after the CPI data earlier in the day before falling back to 0.7080 levels currently - still up 0.5%.

Even though we also did saw a strong NZ CPI data, the kiwi is the laggard today with NZD/USD still facing a rejection of 0.6500 it seems. The pair is down 0.5% to 0.6470 currently, near the lows for the day as the sour risk mood isn't helping.

All eyes are on the Bank of Canada decision up next now, and that could really be a big one - not just for the loonie, but for broader markets as well.