Somewhat disastrous trade balance data from Japan – with exports dramatically worse-than-expected (EU exports -25.1% YoY) and imports worse-than-expected.
JPY crushed overnight (especially AUD/JPY), which is extending today’s equity weakness.
Moreover, not surprisingly S&P 500 futures are down by over 6 points from the close now – and trading below day-session lows.
The charts below show the above developments.
Charts Source: Bloomberg