• Markets react to news that tariff rollback might be delayed till after the election
  • OPEC cuts may be extented to June
  • BSV/USD explodes in the crypto market
  • More investment bank earnings out later today

Equities in the Asia Pac area closed lower after comments from the US administration about tariffs remaining in place until after the US election. The Nikkei 225 fell 0.45% but the ASX bucked the trend to trade 0.47% higher. In the EU, the market has also been mixed with the FTSE 100 rising 0.14% and the Dax trading flat.
Persimmon provided markets with their latest update and noted lower annual sales as it delayed rolling out homes to address concerns about quality and improve customer service. Shares this morning are trading 1.62% higher as traders and investors bat off the bad news.
Later we see more earnings out of the US with Goldman Sachs and Blackrock the main events.
In FX markets the USD strengthened once again after the news of the tariff rollback delay hit the markets. The main comments came from US Treasury Secretary Mnuchin who stated that the current tariffs will remain in place until there is a phase 2 agreement with China. AUD/USD is still feeling the effects of the market pricing in rate cuts, this is compounded by the environmental issues and the trade war (US-China) issues. This morning AUD is the worst performing major currency trading 0.22% lower.
On the commodities front OPEC are back in focus as the cartel are looking at delaying the March meeting until June witch could mean the current output cuts will be extended by default (according to sources). Copper has also started the session lower inline with the broader risk theme. Gold has capitalised on the situation and currently trades 0.43% higher pushing above the $1550/oz level once again.
In the crypto markets BTC/USD once again pushed higher yesterday after positive comments about institutional demand for BTC options contracts being offered by exchanges. The pair stalled just ahead of 9K and settled at 8,630 this morning. The big story came from Bitcoin SV the move came after Craig Wright told courts he received access to the $8.9 billion crypto fortune called the Tulip Trust.