After a pop to the topside at midday, risk trades have come to a screeching halt and were are left to question whether our market data is refreshing or are the screens stuck again….The morning hours have been reasonably active thus far this week but the afternoons have been somewhat tougher to sit through.
EUR/USD has dipped back to the high 1.4220s after a raise to 1.4258 was unable to be sustained. Equity markets have slipped back near breakeven and oil trades modestly to the downside but above early session lows. Copper is an outlier today, closing sharply higher, up 3.0%.
As ever, we will look to the last hour of trade to see if Wall Street can keep its winning streak alive. If it does, expect a modest bid to keep EUR/USD underpinned.
