United States Reuters/Michigan Consumer Sentiment Index came in at 93.3, above forecasts (93) in January

The downside has been playing out again in the antipodeans and NZD//USD has tested the 0.6380 level already with lower oil and stocks again. There has been a minor recovery from there as the position is somewhat overstretched and the end of week flows are in reconciliation as investors take profit as we head towards the end of the week along with bearish words from Fed's Dudley.