Oil prices in the Brent and WTI benchmarks steadied this morning after dropping on Monday as Covid jitters take hold as Beijing locks down. The API and EIA inventory data sets are in focus this week.

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The S&P 500 rallied into the close to reverse a downside gap at the start of the week. Ahead, Australia’s ASX 200 remains vulnerable as Chinese Covid lockdowns continue to intensify.

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USD/CAD appears to have reversed course ahead of the April low (1.2403) as the exchange rate extends the series of higher highs and lows from last week.

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The Chinese Yuan fell sharply versus the US Dollar overnight, extending its slide as Beijing expanded its Covid lockdown to additional districts. Japan's March unemployment rate is due out this mor…

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The update to Australia’s Consumer Price Index (CPI) may curb the recent selloff in AUD/USD as inflation is expected to increase for two consecutive quarters.

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