Good morning, I will just post this so you get an idea of the...

Good morning,

I will just post this so you get an idea of  the initial drop on the futures that has us below the most recent gap action from April and initial stabilization at the 2900 area where traders will be paying attention because 2890 separates the weak action from 2850.   Keep in mind this is low volume trading and you'll need to see what happens in the hours preceding the US cash open to make a judgment.  Friday's hedging positions will be caught by surprise for everyone who was not given a heads up.  The action is courtesy of the increase in tariffs to go into effect this coming Friday.  We have the AUD/JPY and USD/JPY down substantially as well and that means risk off -- if that applies to your trading.  The RBA meeting ammie referenced may be colored by this action.