Market snapshot: WTI dragging down commodity currencies - ANZ

Analysts at ANZ noted the key events overnight.

Key Quotes:

"Commodity prices continued to decline during the US trading session with oil falling nearly 5%, hitting a six-month low.

European equities rose while US bourses gyrated between small gains and losses. The dollar was mixed with commodity currencies lower and the rest of the G10 complex rising.

US treasury yields rose 1-4bps across the curve with the passing of repeal and replace Obamacare through the house suggesting Trump's reform agenda may gather momentum. Metals extended their biggest daily plunge of the year while oil fell close to 5% with worries of oversupply and slowing demand in China hitting the commodity complex."