Sentiment soured overnight, as Netflix disappointment, Peloton news and geopolitical tensions weigh, while expectations around the Fed's tightening path remain aggressive.
Netflix Revenue rose to 7.709 billion in Q4 2021 and the company added 8.28 million paid subscribers in the quarter, which were close to its projections. 
However, its forward guidance was disappointing causing the stock to drop in extended trading and affected broader market sentiment negatively, since it projects just 2.5 million new users in Q1 2022.
Peloton CEO John Foley, pushed back against recent media reports, saying "the rumors that we are halting all production of bikes and Treads are false". He also added that "We feel good about right-sizing our production, and, as we evolve to more seasonal demand curves, we are resetting our production levels for sustainable growth". 
Just released data, showed that UK Retail Sales dropped 3.7% m/m in December, compared to +1.0% prior (revised from +1.4%).
Japan CPI Inflation rose 0.8% year-over-year in December, from 0.6% prior. Excluding fresh food, CPI was 0.5%, same as November.
Main Asia-Pacific stock markets followed Wall Street lower, while European futures are also downbeat.
The JPY Basket attracts risk-off flows, the US Dollar is mixed, whereas main Commodity Currencies (CAD, AUD, NZD) retreat against both.
EUR/USD moves to profits, having defended 1.1300 during yesterday's drop.
GBP/USD stays on the back foot and concedes 1.3600.
USD/JPY retreats for fourth straight day and trades below 114.00.
USD/CAD is on the offensive above 1.2500.
AUD/USD sheds almost 0.5% and breaches 0.7200 as investors turn to safe-havens.
NZD/USD is in similar mood and drops towards 0.6700.
GER30 is under pressure, trying to hold 15,700.
US30 finds support above 34,700, after setting 2021 lows earlier (34,443).
USOIL covers some its initial losses and reclaims 84.00, but remains in negative territory.
XAU/USD is constructive above 1,840.
Economic Calendar Picks (GMT)
Market participants await Retail Sales from Canada (12:30) and ECB President Lagarde's speech at Davos (12:30).
US Secretary of State Blinken is expected to meet Russian Foreign Minister Sergey Lavrov in Geneva this morning, amidst rising tension over Ukraine.
See the economic calendar here.
Senior Market Specialist
Nikos Tzabouras is a graduate of the Department of International & European Economic Studies at the Athens University of Economics and Business. He has a long time presence at FXCM, as he joined the company in 2011. He has served from multiple positions, but specializes in financial market analysis and commentary.
With his educational background in international relations, he emphasizes not only on Technical Analysis but also in Fundamental Analysis and Geopolitics – which have been having increasing impact on financial markets. He has longtime experience in market analysis and as a host of educational trading courses via online and in-person sessions and conferences.
Retrieved 26 May 2022 https://www.onepeloton.com/press/articles/a-note-from-john-foley-co-founder-and-ceo