If you are wondering why the gappy movement in currencies:

Trump's tweets will continue to reverberate through financial markets as more centres wake to the news and markets open. Early FX response is here:

Looking ahead to the data agenda for today:

0100GMT Australia - monthly inflation gauge (a privately produced index, not ooficial figures but a useful guide)

  • for April, prior 0.4% m/m and 2.1% y/y

0100GMT New Zealand - ANZ Commodity price index for April, prior +1.4%

0130GMT Australia - ANZ's job ads survey, for April, prior -1.7% m/m

0145 GMT China - Caixin services and composite PMIs

  • Services expected 54.2, prior 54.4
  • Composite prior 52.9