Good evening,

US indices are off their intraday lows and the DJIA is down 51.47 points at 16,414.83 (-0.31%). In Europe the DAX lost 40.23 points at 9,757.88 (-0.41%).  US Personal Income data at +0.3% was above the consensus (+0.2%) but the ISM Index at 48.2 was below the expectations (+48.3).

Federal Reserve Vice Chairmen Stanley Fischer said today in New York that the FED does not know what will do in March as the impact of recent instability on financial markets left policy makers with more uncertainty. However he was confident that the inflation rate, even in a longer time frame, will reach the 2% target.

In the FX market EurUsd is trading at 1.0899 (+0.65%) and UsdJpy is unchanged at 121.1. GbpUsd is gaining 192 pips at 1.4435 (+1.35%). Selloff on Crude Oil after the commodity failed to rise above the static resistance 35.51 $/barrel. The commodity is trading at 32.43 $/barrel (-5.95%).

The most important economic event in the calendar during the Asian session will be the Australian Interest Rate Decision and Rate Statement at 03:30 GMT.  At 10:00 GMT  Eurozone Unemployment Rate will be the most relevant event of the European Session.

(19:47 GMT)