USD

S&P 500 futures -0.1%, Nasdaq futures -0.2%, Dow futures -0.1%

European indices mostly a little higher to start the day. A more pensive risk mood overall awaiting the US CPI report. Eurostoxx +0.1%, DAX +0.1%, CAC 40 -0.2%, UK FTSE flat, IBEX +0.3%, FTSE MIB flat

ECB's Kocher: The ECB is not committed to any particular rate path

Adds that "an adjustment towards yen appreciation is necessary". That throws the ball to Tokyo's court. Oof.

The chief of Japan's most influential business lobby Keidanren has come out to say that the yen currency depreciation "has gone a bit too far".

European stock futures slightly higher after the steady showing yesterday. Wall St recovery also helping the mood but US futures are more tepid ahead of CPI later. Eurostoxx futures +0.2%, DAX futures +0.2%, CAC 40 futures +0.1%, UK FTSE futures flat

Trump's 25% Iran tariff threat rattles global trade; China, India, Turkey face potential impact on $22B+ exports.