Looks like the market continues to nurse a hangover after this morning’s Chinese data. Risk markets did well on Monday in anticipation of more moderate than feared Chinese CPI but now finds itself struggling in what appears to be a classic case of buy the rumor, sell the news.
Support at 0.9945 is rapidly coming into view as stops below 0.9960 were tripped off seconds ago.
Copper is down 2.1%, The CRB is down 0.7% and oil is at its lowest since late November.
