US equities fell today on the realisation that a Fed rate hike this month seems more likely than not. As NAB’s Rodrigo Catril explains to Phil Dobbie, a big drop in weekly jobless claims was a strong forward indicator of the strength of the US economy, to such an extent that it would take a disastrous set of non-farm payrolls to change the expectation.

Meanwhile an investigation into Attorney General Jeff Sessions seems to have had little impact on the markets. And Theresa May is reported to have set May 15th as the day she will invoke Article 50. We also look at the fall in the Aussie dollar after yesterday’s lower than expected trade surplus.