In the G10 currencies today, AUD and NZD are number one and two, respectively while SEK is the top loser. AUD and NZD were buoyed by dovish Fed minutes as it came to light that some members were concerned that inflation weakness may not be transitory. Also, improved consumer inflation expectations from Australia helped the Aussie. SEK fell sharply as inflation rate came in at 2.1% compared to 2.4% expected; this gives Riksbank Governor Ingves more room to keep policy lax. In the equities space, the Nikkei 225 has closed +0.35% at 20955 but the European equities are trading slightly lower with FTSE down 0.07%, DAX down 0.5%, and CAC down 0.2%. In the rates market, the German and the US 10-year yields have fallen on cautious Fed minutes. The German and US 10-year yield are trading at 0.44% and 2.33%, respectively. In the energy space, the Brent is consolidating at $56.76 after failing to stay above the $57.0 mark yesterday. We await EIA crude oil stock data at 1430 GMT where once again (1.9991M barrels) an inventory drawdown is expected. In terms of data today, the Euro-area industrial production at 0900 GMT remains the only data of any importance from Europe for the rest of the day. The US PPI at 1230 is the only data of any note from the US. That said, we will hear from a number of central bank speakers, including BoE’s Haldane at 1330 GMT, ECB’s Draghi, Praet, Fed’s Powell and Brainard all at 1430 GMT.