US indices seesawed during the session yesterday but ultimately finished the day lower. S&P 500 dropped 0.13%, Dow Jones and Nasdaq moved 0.15% lower and Russell 2000 dipped 0.22%

Indices from Asia-Pacific region traded higher today. Nikkei gained 0.2%, S&P/ASX 200 added 0.5% while indices from China traded 0.2-1.4% higher. Kospi was a laggard, dropping 0.5%

DAX futures point to a more or less flat opening of the European cash session

According to Reuters report, G7 leaders will discuss energy and food issues during the upcoming meeting as well as ways to increase pressure on Russia

Credit Suisse says that Chinese fiscal stimulus that may amount to $1.5 trillion in infrastructure spending will have a big impact on the global economy, especially on Chinese trading partners like Australia

Citi sees 50% chance of US recession as higher interest rates and elevated inflation are putting drag on consumer spending and economic output

Japanese manufacturing PMI dropped from 53.3 to 52.7 in June (exp. 53.5)

Australian manufacturing PMI ticked higher from 55.7 to 55.8 in June

API report pointed to a 5.61 million barrel build in US oil inventories (exp. -1.35 mb)

Oil deepened yesterday’s drop during the Asian session today. However, those losses were erased already and now Brent and WTI trade flat on the day

Cryptocurrencies trade higher on Thursday morning. Bitcoin gains 2% and returns above $20,000

Precious metals trade mixed – gold and silver drop while palladium and platinum gain

EUR and JPY are the best performing major currencies while AUD and NZD lag the most

WTI (OIL.WTI) deepened declines during the Asian session, following a big and surprising inventory build signalled by API report. However, bulls managed to recover from the drop and now WTI trades flat on the day.