1. The positive momentum ran into profit taking after strong China inflation data despite strong commodity prices. 2. The potential US Fed update risk tonight or the issues with US cabinet issues may have spooked the market after strong China inflation data. 3. US futures moved negative at lunch and dragged most of the Asian markets down. 4. US Fed updates are going to come thick and fast for the next month (1) Chair Janet Yellen to deliver Semi-annual Monetary Policy Report to the Congress tonight and tomorrow night (2) Minutes from last month’s FOMC meeting will be released on the 22nd (3) FOMC’s next meeting on 14/15th March 5. Mexico is talking about moving their food purchases from US to Brazil and Argentina in retaliation to border tax and wall issues. (VIEW LINK)
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