The minutes of the most recent US Federal Reserve meeting will be released later today, and will be closely watched to see who voted to hike rates.
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Markets are awaiting the release later today of the minutes of July's US Federal Reserve meeting, which could produce a hawkish tilt which would strengthen the US Dollar and US yields. It is known that there were three dissenting votes from the decision to hold rates, and the minutes will release details as to whether these were isolated dissents or a bloc dissent. If it is seen that this was a bloc dissent, then this would be seen as a hawkish tilt and would probably strengthen the US Dollar, US yields, and weaken US stock markets.
UK CPI (inflation) data released earlier today showed annualised UK inflation strengthening from 2.6% to 2.9% as expected - no surprises here.
In the Forex market, the US Dollar is continuing to weaken. Since today's Tokyo open, the strongest major currency has been the Japanese Yen, while the weakest has been the Australian Dollar.
Sugar futures have risen strongly to reach a new 1-year high and will attract the interest of trend traders on the long side. Retail traders may be able to get cheaper exposure using Sugar ETFs such as CANE.
Stock markets are mostly lower over the past day but are showing signs of stabilising in recent hours.
Crude Oil is continuing to hold up but is not really advancing, as reports start to indicate that Iran's blockage of the Strait of Hormuz is no longer able to truly choke Gulf oil exports. It seems likely that only a resumption of the Iran war in a full kinetic manner would be able to send the crude oil price notably higher.