US equities lower, European equities flat, commodities lower, Aussie dollar jumps temporarily on CPI, ASX futures down 65 points

Clearly there were a lot of traders betting for a significantly lower than expected Australian consumer price index release yesterday; it came in 0.1% lower than expected and the AUDUSD currency pair counterintuitively jumped one cent. Many must have been of the opinion that the Reserve Bank of Australia was going to be handed a decisive excuse to cut rates, but CPI held up at 1.7% versus 1.8% expectations amid the effects of falling energy prices (chiefly petrol). But the excitement abated shortly after the end of what was a poor night for US equities, with the risk-off move dragging the AUDUSD back down to its US$0.79 resting place, as seen in today's first chart.

The second chart shows the other side of the AUDUSD equation, with the strength of the US dollar softly returning and beginning to feed what was some brief relief in the US dollar strengthening theme, despite a Fed statement that should challenge the status quo on a 2015 US interest rate move. As I've said previously, I find the strength of the US dollar disheartening due to its implications for China and emerging Asia - I'd like to see its pace slowed down, we may have been handed a reason for it to do that last night.

The bloody bottom section of today's Global Market matrix illustrates a poor night across the board for commodities. This has helped push the ASX 200 futures lower and has given Aussie share investors a pretty poor start this morning. As always, check out the US Federal Reserve's statement tracker at WSJ (http://projects.wsj.com/fed-statement-tracker/) for more on last night's policy statement change - the Fed is getting dovish due to a weak inflation outlook, and this means the market should begin to slow down its pricing in of a 2015 US interest rate hike.

Today’s charts are taken from the Rivkin Trader platform. 30,000 global instruments available to trade including FX, commodities, index, ETFs and international shares. Trade Australian share CFDs from just $8 or 0.10%. Click here or phone 1300 748 546 to get your free $100,000 demo account.

Upcoming economic announcements: Japanese foreign asset purchases and retail trade at 10:50am, German employment report at 7:55pm, German CPI out at midnight, all Sydney time.

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