(Bloomberg) -- Asian stocks looked set to slip, tracking losses in U.S. equities as financial shares lagged. The dollar was whipsawed after President Donald Trump said he wasn’t thrilled at the Federal Reserve raising interest rates.

Futures indicated modest losses for stocks in Japan, Hong Kong and Australia. The U.S. currency recovered somewhat after the White House issued a statement saying the president respects the central bank’s independence. Treasuries and the yen climbed. The yuan tumbled to the lowest in a year against the greenback as investors assess Chinese monetary policy amid signs of a slowing economy.

Earnings season is in full swing, with a mixed picture so far doing enough to propel U.S. equities back toward the all-time high reached in January. Trade tensions are simmering as investors try to gauge the impact of China’s efforts to bolster growth by loosening monetary policy.

Elsewhere, commodities entered a correction on Thursday, with copper dipping below $6,000. West Texas Intermediate crude fell below $68 a barrel then rebounded.

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These are the main moves in markets:

Stocks

  • Futures on Japan’s Nikkei 225 Stock Average slid 0.4 percent in Singapore.
  • Futures on Australia’s S&P/ASX 200 Index lost 0.2 percent.
  • Futures on Hong Kong’s Hang Seng Index dropped 0.4 percent.
  • The S&P 500 Index fell 0.4 percent.

Currencies

  • The yen was 112.43 per dollar after rising 0.4 percent.
  • The offshore yuan held at 6.7891 after dropping 0.7 percent.
  • The euro was little changed at $1.1645.
  • The pound bought $1.3017.

Bonds

  • The yield on 10-year Treasuries fell three basis points to 2.84 percent.

Commodities

  • West Texas Intermediate crude rose 1 percent to $69.44 a barrel.
  • Gold was flat at $1,222.82 an ounce, after reaching the weakest level in more than a year.

To contact the reporter on this story: Adam Haigh in Sydney at ahaigh1@bloomberg.net

To contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Cormac Mullen

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