- In currencies, the US dollar and yen opened the session stronger, however both currencies have since pared their gains as dealers attributed the earlier moves to "stop hunting" and illiquid market conditions. EUR/USD moved below 1.400 in Asia, but has since pared its losses. Additionally, the Swiss Franc and pound have moved off of their worst levels against the dollar. In terms of the commodities currencies, the NZD, AUD and CAD have all rebounded from their opening losses against the USD and JPY. The Australian dollar may have been supported by the June AIG Performance of Services index which expanded for the first time since March 2008, due to a rebound in sales and new orders. In other currencies, GBP/JPY and EUR/JPY have bounced off of their lows, which were seen around 156.50 and 133.59, respectively. The launch of a ¥110B samurai bond by France's EDF is seen as supportive for EUR/JPY. In Asian currencies, the Korean Won is marginally weaker against the dollar as yesterday's missile tests by North Korea have had only a muted impact.

- In terms of foreign exchange commentary, as speculation regarding the US dollar's reserve currency status continues going into the upcoming G8 summit, the former Chinese Vice Premier Zeng said he sees no dramatic change soon in the international currency system, while simultaneously urging more supervision of the reserve-currency nations. In other commentary, the Peoples Bank of China Governor Zhou noted that lower US demand posed risks to China, which include overcapacity, weaker GDP and unemployment.

- In equities, most Asian indices are in negative territory as the US nonfarms payrolls report has weighed on sentiment. The Nikkei 225 is lower by more than 1% on declines in shares of consumer services firms and oil/gas companies. Australia's S&P ASX 200 is declining by more than 1.25%, led by losses in shares of basic materials companies and financials. South Korea's Kospi is marginally lower on declines in shares of utilities and oil/gas companies. In other Asian equities, Taiwan's Taiex is down by more than 0.10%, China's Shanghai Composite is higher by more than 0.20% at the morning break and the Hang Seng is little changed. (Note: All equities quotes are as of 11:52 PM EST)

- Crude oil is lower by more than 0.30% and trading around $66.50/bbl. Crude is being weighed down by the declines in equities and the weakness in the EUR/USD currency pair. During the US session, oil prices declined by more than 3.5% following the release of the US employment figures. Spot Gold is higher by more than 0.20% and trading above $930/oz, after declining by more than $10 during the US session.

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