Indices – Asian markets closed flat to slightly higher across the region, with the exception of Nikkei (-0.13% for Nikkei to +0.38% for ASX200). In the US, the Russell closed slightly down but headline indices closed in the black (DOW +0.70%, S&P +0.22%, NAS +0.08%). Dow gained on IBM strength and robust earnings from P&G and UTX.

Commods – Crude oil still trades heavy but holds > $52 for now.

Overnight Data: AUD Employment Change for Dec came in ahead of expectations, at 21.6k (exp: 16.5k, prev: 37.0k). AUD popped on the release, from around 0.7145 to just above 0.7165. An hour or so later NAB announced a nudge higher for its mortgage rates and AUD dropped to 0.7140 and is struggling to hold 0.71.

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