US equities delivered mixed performances yesterday at close as investors overlooked earnings reports. During the Asian session most of the major equity indices very much reflected the sentiment in the US but the Japanese Nikkei and the Shanghai Composite Index registered strong positive performances.

The Nikkei reached the psychological 20’000 level as overnight data showed that the Japanese exports grew at a stronger pace and Japan posted its first trade surplus after 3 years. Overall Yen weakness has helped exports and the trade balance.

Australian CPI remained resilient and overall better than expected, the Aussie found support on the back of expectations that a rate cut was not imminent. The Aussie is amongst the major gainers this morning. The euro looked wary given the ongoing Greek debt negotiations.

The GBP was weak this morning ahead of the release of the minutes of the BoE’s April Meeting, but overall remained fairly unchanged against the USD and the euro. Investors will be looking for policy insights as we move into the upcoming general elections in the UK.