Japanese markets are closed today due to a national holiday, leading to reduced liquidity in the region. Global traders are focusing on the People's Bank of China's USD/CNY reference rate fix, anticipated around 7.1162, which could influence currency markets. Additionally, attention is on New Zealand's Shadow Board, which has recommended a 25-basis-point rate cut to 2.25%. Meanwhile, US equity futures have seen a slight increase, driven by expectations of policy support, although concerns over AI-related valuations persist. The S&P 500 has declined approximately 3.5% so far this month, reflecting ongoing market volatility.